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TRUCKING INDUSTRY WORLDWIDE * Canada - Trucking firms hit by recession in Q2
Laval,QUE,CAN -The Montreal Gazette -July 23, 2009: -- The recession that has slowed the manufacturing and oil and gas sectors hit Laval-based TransForce Inc., Canada's leading independent trucker, in the second quarter. TransForce said Thursday revenue fell to $454 million from $596 million a year earlier and earnings were $18 million or 21 cents a share, down from $19.3 million or 22 cents a share in the 2008 period... CEO Alain Bedard said debt reduction remains top priority and TransForce expects to repay $100 million this year. The company financed its recent expansion in Western Canada mainly with debt... Toronto-based Vitran Corp., another trucker and logistics firm, reported earnings of $400,000 or 3 cents a share for the second quarter, down from $4.6 million or 34 cents a share a year earlier. Revenue fell 19 per cent to $159 million (including special items)... (Photo from hankstruckpictures - This is the current colours of Cabano Kingsway. Photo taken at Sarnia, Ont., January 2002. Cabano Kingsway changed it's name to Transforce Inc. in April, 1999.)
* India - TCI Profit Surges 35 Percent - State-owned logistics provider gains despite marginal decline in revenue
New Delhi,India -The Journal of Commerce -Jul 24, 2009: -- Net profit for state-owned Transport Corp. of India surged 35 percent to $1.6 million in the first fiscal quarter, despite a marginal decline in overall revenue... Income from operations totaled $64.7 million, down from $65.5 million in the same quarter the previous fiscal year... Operating profit for the April-June period increased 14 percent to $3.4 million, the company said in a statement on Wednesday...Labels: trucking industry news worldwide
posted by Unknown @ 3:05 PM
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