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Updated Saturday, March 20, 2010 3:55 pm TWN, Bloomberg

FedEx's quarterly profit more than doubles on Asia air shipments

NEW YORK -- FedEx Corp., the world's largest cargo airline, said quarterly profit more than doubled on increased shipments in Asia and Europe as the global economy improves.

Net income for the three months ended Feb. 28 climbed to US$239 million, or 76 cents a share, from US$97 million, or 31 cents, a year earlier, the Memphis, Tennessee-based company said Thursday. Revenue gained 6.9 percent to US$8.7 billion. FedEx rose to a 21-month high in New York trading after reporting that demand increased for international air packages as businesses in Asia and Europe restocked inventory.

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FedEx's quarterly profit more than doubles on Asia air shipments

Choi Gee-sung, chief executive of South Korea's Samsung Electronics, claps as he presides over an annual shareholders' meeting at the company headquarters in Seoul yesterday. ...

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