Patriot Transportation’s Profit Improves

Tank and bulk carrier Patriot Transportation Holding’s fiscal first-quarter profit jumped from a year earlier, the company said Wednesday.

Net income rose to $6.4 million, or 68 cents a share, from $1.3 million, or 14 cents, a year earlier. Operating profit rose to $3.2 million, from $3 million.

This year’s first quarter included an after tax gain of $4.9 million, or 52 cents per share, from its previously disclosed sale of property in Caroline County, Va.

Revenue for the quarter ended Dec. 31 rose 2.8% to $28.3 million. Transportation segment revenues rose almost $1 million to $23 million.

Patriot operates tank carrier Florida Rock & Tank Lines and a real estate business.