TORONTO, Ont. — Clarke Inc., a Canadian provider of freight transportation and logistics services throughout North America, today announced its revenues increased 25 per cent for fiscal 2002.
The company points to the four U.S. logistics companies acquired by Clarke Logistics in the third and fourth quarters of fiscal 2001 as a major cause of the increase.
As well, Canadian domestic revenues decreased slightly, transborder and U.S. domestic sales increased 60 per cent over fiscal 2001.
It wasn’t all good news mind you, the company’s consolidated operating expenses increased 26 per cent primarily as a result of higher volumes.
“We are pleased that, during a year of economic slowdown, we managed to grow and strengthen the company,” says Roy Rideout, chairman and chief executive officer.
“Our U.S. business, saw some fall-off during the fourth quarter, but overall grew substantially. Concord’s improvement was encouraging, and our successful debt-reduction program positions us for future growth opportunities in a consolidating industry.”
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