UTI Worldwide’s Fiscal Second-Quarter Profit Rises

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ir and ocean freight forwarder UTi Worldwide’s fiscal 2007 second-quarter profit rose to $23.7 million or 24 cents a share, from $22.3 million or 23 cents a year ago.

Net revenue rose 28% to $305.4 million from $238.3 million a year ago, UTi said in a statement.

The increase in revenue reflects continuing organic growth across all geographic regions and as well as contributions from Market Industries, Ltd., which UTi acquired in March. (Click here for previous coverage.)

UTi Worldwide — incorporated in the British Virgin Islands with operating headquarters in Rancho Dominguez, Calif. — is ranked No. 24 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.