Vladimír Urbánek (Kurzy.cz)
World markets  |  March 20, 2013 14:37:11

FedEx lowers profit outlook for this year, reducing activities in Asia

The world's leading shipping company, American FedEx announced that reduces its profit outlook for the fiscal year ending in May this year from the original 6.6 to 6-6,2 per share. Decrease in profit estimates associated with greater than expected reduction activities in Asia and the greater tendency of clients to cheaper less profitable services. Market estimated an average profit of $ 6.35 per share.

Results and prospects for the company's market has always closely monitored because it is recognized as an important signal of the real development of the economy but the global and regional scale.

The company is currently located approximately in the middle of its restructuring plan, which allows for a total cost reduction of about 1.7 mld.USD whose primary goal is to offset the negative impact of diversion from the most profitable customers express services.

Earnings during the current fiscal year 4Q will range 1,9-2 USD per share, compared with an estimated market now $ 2.12 per share.

Shares of FedEx responding to reports a decrease of about 3.3%. At the end of yesterday's title from the start of the year strengthened by 16%.
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FedEx snižuje ziskový výhled pro letošní rok, sníží aktivity v Asii

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