Canada Cartage Reports Profitable First Public Year

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Canada Cartage Diversified Income Fund said Monday that its revenue rose 18.2% to C$275.3 million in its first year of operation as a public company, but lost C$300,000 or 1 cent per unit in the fourth quarter.Net income for the approximately 10 months from the March 10, 2006, date of its initial public offering to the end of the year was C$1.5 million or 8 cents per unit, in line with its expectations, the company said.Canada Cartage has been in business for 90 years.The company late last year completed acquisition of MacCosham Inc., Edmonton, Alberta, which provides warehouse, distribution and related transportation services.MacCosham generated annual revenue of about C$4 million in 2006, and will continue to operate its other transportation divisions independently.