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Titanium posts higher Q3 revenue, profits

WOODBRIDGE, Ont. — Titanium Group has posted a strong third quarter, with revenue up 40% and EBITDA up 93% year-over-year.

The company reported Q3 net income of about $1.37 million and EBITDA of $2.9 million.

Truck transportation revenue rose 46% over the third quarter of 2014, to $18.1 million. The company also increased its EBITDA margin from 9.2% to 13.3% year-over-year.

Logistics revenue was also up 30% y-o-y, to $9.4 million.

Titanium said that $1.4 million in aged equipment acquired through its purchase of Muskoka Transport has been sold and that Muskoka’s margins are continuing to increase.

The company says it continues to pursue a minimum of two acquisitions per year and has its sights on some targets.

“Titanium’s diverse customer base and core operations continue to provide a strong platform for future growth,” said Ted Daniel, CEO of Titanium “Titanium is well positioned to execute its consolidation strategy with a strong balance sheet and substantial undrawn credit facilities.”

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