Share
February 24, 2011 2:00 PM, EST

Mullen Group Profit Jumps in 4Q

Canadian transportation firm Mullen Group Thursday posted a fourth-quarter profit of C$33.2 million, or 42 cents per share, compared with C$11.1 million, or 14 cents, a year before.

Revenue rose 26.9% to C$296.4 million. Trucking and logistics revenue rose to C$107.9 million, from C$89.5 million a year earlier.

Operating income rose 32.5% to C$58.3 million, rising in both the trucking/logistics and oilfield services segments. The trucking/logistics segment rise was mainly attributable to acquisitions and higher fuel surcharg revenue.

For the 2010 year, profit fell to C$79.1 million, or C$1 per share, from C$90.8 million, or C$1.13, in 2009.

Revenue in the year grew 6.3% to $1.04 billion.

Mullen Group is ranked No. 59 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.