On January 2nd, the logistics and express delivery group FedEx will increase shipping rates by applying a average increase of +6.9% which will rise to +6.9%-7.9% for the shipment of larger packages. The announcement of the sensitive Inflation was announced yesterday at the Presentation of results for the first quarter of the year fiscal 2023, period that ended last August 31 and whereas there has been a further slowdown in the growth of Revenues. Weakening of the increase in turnover which, explained FedEx Corp. President and Chief Executive Officer, Raj Subramaniam, is a consequence of the contraction in demand: "We are moving quickly and flexibly," he said. specified - to navigate a difficult operating scenario, acting on costs and leveraging capabilities and aspects commercial to adapt to the impact of the reduction of question'.

In the June-August quarter of this year the group's revenues amounted to $23.24 billion, with growth of +5.6% on the same period of fiscal year 2022. More accentuated the increase of the costs, risen of +7.0% to 22,05 billion Dollars. Operating profit and net profit recorded decreases respectively of -14.8% and -21.3% falling to 1.19 billion and 875 million dollars.

FedEx confirmed that consolidated operating result "is was negatively affected by weak volumes which has accelerated in recent weeks of quarter due to the weakening of the economic scenarios. Moreover - the company has specified - the results have been adversely affected by barriers to FedEx Express services. The increase in revenue, including increases generated by surcharges for fuel - specified again FedEx - have more which offset the decline in volumes, resulting in an increase in quarter's revenues'.

Regarding stronger cost growth, FedEx confirmed that it had implemented measures to contain them; however The impact of these initiatives was delayed compared to declining volumes and operating costs remained high compared to demand.

FedEx expects that in the second quarter of this fiscal year Tax revenues will remain stable or increase slightly Expected revenue of $23.5-24.0 billion compared to 23.47 billion in the period September-November of last year.