TransForce Posts Lower 2Q Profit

Canadian transportation firm TransForce Income Fund said late Wednesday it earned C$26.3 million or 31 cents a share in the first quarter, down from C$34.9 million or 40 cents a year earlier.

Revenue rose to C$450.1 million from $409.7 million a year earlier, the company said in a statement.

During the quarter, TransForce said it completed the acquisition of three fleet service and personnel companies, which it subsequently formed into a new Fleet Management and Personnel Services division. The new division is now part of the company’s Specialized Services segment, TransForce said.

In addition, the company announced earlier in August that it would acquire Century II Holdings, the parent of Canadian courier ICS Courier.



TransForce is ranked No. 19 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.

 

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