Fedex blames pandemic for 2021 profit slump


 

Fedex UK saw its profits slide last year as it battled against the Covid-19 pandemic. Its latest financial results for the year ending 31 May 2021 showed that operating profit fell by 59% to £5.3m. Pre-tax profit also reduced by 52% to £7.2m. However, the parcel delivery service saw turnover increase by 14.5% to £231m during the period. In its business review, the company said revenue had increased predominantly due to a recovery following the initial negative impact of the […]