FedEx’s revenue growth remained strong at 8.5% in 2017, following revenue growth of 19.8% in 2016 on the back of the acquisition of TNT Express. The June 2017 NotPetya cyberattack against TNT Express impacted profitability in 2017, partially offsetting yield and volume growth. A significantly lower effective tax rate supported net profit for the year. FedEx’s capital expenditure is focusing on hub modernisation and expansion, along with aircraft modernisation.
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