Trimac posts gains

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CALGARY, Alta. – Despite a $5 million decline in revenue in the fourth quarter, Trimac Income Fund still boasted a modest 3% gain in total revenue for 2006. Total revenue for 2006 was $323.4 million compared with $313.6 million in 2005. Revenues for the fourth quarter ended Dec. 31, 2006 were $79.8 million, compared with $85 million during the same period in 2005.

Company officials said results for the quarter were impacted by reduced activity in the Alberta and B.C. oil and gas sector, severe winter conditions and continued volatility in woodchip volumes.

“As we look back at 2006, we are pleased with the full year’s results as we have completed our third consecutive year of solid growth and improved profitability,” said Terry Owen, president and CEO for Trimac. “As we look ahead to 2007, we see continued strength in the western division, despite the likelihood of reduced activity related to the oil and natural gas industry.”

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