Canadian transportation firm Mullen Group said its second-quarter profit declined, primarily foreign exchange-rate accounting, though operating income rose 9%.
Net income fell to C$7.4 million, or 9 cents per share, from C$12.3 million, or 15 cents, a year ago. Revenue rose 10% to C$320 million. Operating income rose to C$53.1 million.
Mullen’s trucking and logistics segment’s revenue rose 13.2% to C$133.7 million, while oilfield services revenue gained 7.4% to C$188 million.
Mullen Group is ranked No. 51 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.