ALDERSYDE, Alta. — Mullen Transportation has released its second quarter report, and once again the company has reached record revenues due to its strong oilfield services division.
Mullen’s trucking division took another hit over the past few months, as demand for general freight services was down.
But increased demand for Mullen’s oilfield services, and last year’s acquisition of E-Can Oilfieldd Services Group seem to be paying big dividends or the Alberta-based company.
All told, Mullen generated consolidated revenues of $75.6 million during the second quarter – and improvement of 17 per cent generated over the same period last year. Profitability was also up with operating earnings skyrocketing by 29 per cent while net income grew by 43.2 per cent or 44 cents per share.
The latest figures bring Mullen’s six-month totals to $183.7 million in consolidated revenues, up 17.5 per cent from last year.