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FedEx reports spicy profits

MEMPHIS: FedEx Corporation has reported revenue of US$11.8 billion for its fourth quarter ending May 31, 2014 – up from US$11.4 billion in the same period a year ago. Net income was US$730 million – an increase of US$51 million year-on-year.

FedEx Istanbul TurkeyFor the last quarter FedEx Express produced revenue of US$7.00 billion, up slightly from last year's $6.98 billion; FedEx Ground reported revenue of US$3.01 billion, rising 8.0 percent from last year's $2.78 billion; and FedEx Freight had revenues of US$1.55 billion, an increase of 12 percent from last year's US$1.39 billion.

Company revenue for the full 12 months totalled US$45.6 billion compared to $44.3 billion for the previous year. Net income was US$2.10 billion, up from US$1.98 billion.

FedEx is predicting earnings per share (EPS) of US$8.50 to US$9.00 for the 2014/2015 fiscal year – up from US$6.75 EPS during the last 12 months. Capital spending is also expected to rise from US$3.5 billion to US$4.2 billion in the next year.

"Fiscal 2014 was a good year for FedEx and we expect fiscal 2015 to be even better," said Alan Graf, FedEx executive vice president and chief financial officer. "With continued modest economic improvement, our results in fiscal 2015 should benefit from base performance improvement and ongoing execution of our profit improvement initiatives at FedEx Express, continued profitable growth at FedEx Ground and FedEx Freight, and our share repurchase programme."

On May 1, 2014, FedEx Express acquired the courier Supaswift in South Africa and six other countries: Botswana, Malawi, Mozambique, Namibia, Swaziland and Zambia.

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