Mullen’s First-Quarter Income Drops

Canadian transportation firm Mullen Group Income Fund said its first-quarter profit dropped 37.8% to C$31 million or 38 cents per unit, from C$49.8 million, or 62 cents per unit, a year ago.

Revenue fell 12.9% to C$312 million, the company said in a statement late Tuesday.

Trucking and logistics operating income slipped 1.7%, to C$16.9 million, while revenue fell 9.6% to C$104.6 million.

Mullen, which also has oilfield services operations, is ranked No. 63 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.