FedEx profits fail to deliver

x&rs

x’s profit fell 11.9 per cent in the second quarter, as the package delivery company struggled to improve results at its air freight business, it announced last night. The US-listed firm reported earnings of $438m (£269m). Disruptions relating to superstorm Sandy and falling consumer demand for pricey express postal services dented the results, though the drop was less severe than some investors had feared.