Trucking showed profitable growth in final quarter of 2010
May 5, 2011
OTTAWA, Ont. --The operating profit of trucking companies improved 19% in the fourth quarter of 2010 compared with the same quarter in 2009, according to Statistics Canada's new quarterly trucking survey.
OTTAWA, Ont. –The operating profit of trucking companies improved 19% in the fourth quarter of 2010 compared with the same quarter in 2009, according to Statistics Canada’s new quarterly trucking survey.
Operating revenue (+10%) increased more than operating expenses (+9%). Fourth quarter profit reached $1.2 billion on revenue of $10.8 billion and expenses of $9.6 billion, the survey results, released today, indicate.
Salaries and wages expenses increased 3% to $2.5 billion in the fourth quarter compared with the same quarter in 2009. Vehicle fuel expenses rose more rapidly (+14%) but, at $1.9 billion, remained a smaller component of total expenses. Most of the increase in fuel expenses was a result of higher prices, as fuel consumption rose 5%.
During 2010, trucking companies experienced year-over-year increases in quarterly profits averaging 26%, reflecting the general economic upturn. Quarterly revenue increased 12%, on average, and outgrew expenses in each of the four quarters.
The QTS includes businesses with annual revenue of $30,000 or more. Provided that they meet the annual revenue threshold, owner-operator businesses are included in the QTS.
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