In the year up to and including May 31st 2015, FedEx reported a turnover in the UK of £244.8 million, which is a 6.8 per cent increase from the previous year.

The parcel delivery company's operating profit was also up by 4.4 per cent to £35 million during this same period, according to FedEx's latest accounts.

Not only this but the volume of parcels that was handled by the business' network during this year-long period saw an uplift of 5.6 per cent, which translates to 58.6 million packages.

One of the reasons for this is that FedEx has both its own network of depots and several franchises throughout the UK, reports Logistics Manager.

It seems that with these results, the business is on track to take over TNT Express. It's main business in Britain is TNT UK, which saw a turnover of £724.9 million in the year up to December 31st two years ago. Overall, this was a drop in turnover for the company, which it said it owed to a decline in revenue from international consignments.