Frederick W Smith, boss of international courier FedEx, has recently announced the company’s peak season has proved “very successful”. The American company has issued its latest results, disclosing a 4% year-on-year and net income up by 53% in comparison to those troublesome results from last year’s third quarter.
Smith commented: “We had a very successful peak season as volumes grew across all transportation segments, and our profit improvement programs are moving ahead as scheduled. We believe our strategy is sound, our culture is unique and our customers value our broad portfolio of business solutions.”
Compared to the various FedEx divisions, FedEx Express saw its income flat when compared to the third quarter of 2014. It was reported that revenue was hit by currency movement and the reduction in fuel surcharges. FedEx Ground saw its revenue rise by 12% to $3.39 billion. FedEx Freight on the other hand saw its revenue up by 6%, with its operating income almost being doubled to $68 million due to volume growth and improved profitability.