16 Dec 2011

FedEx profit up 76% for quarter

12:45 pm on 16 December 2011

FedEx's profit jumped to $US497 million in the second quarter ending 30 November.

Net income was 76% from a year ago. Revenue of $US10.59 billion was up 10%.

The US parcel delivery company is also upgrading its fleet of jets, with 27 new planes on order from Boeing.

It expects the new planes to make big savings on jet fuel and other costs.