TORONTO, Ont. — Clarke Inc.’s freight transportation and logistics services enjoyed a huge jump in the second quarter of this year.
Of Clarke’s four operating divisions, Clarke Transport, Clarke Logistics and Clarke Road Transport all posted another quarter of record revenue and profit growth. Concord Transportation continued to underperform, although the unit’s turnaround program improved its operating margin by approximately $1 million over the first quarter.
Overall revenue increased 32.6 per cent from the same period one year prior, reflecting higher volumes in the U.S. market primarily from four U.S. businesses acquired by Clarke Logistics. Consolidated operating expenses increased 34.5 per cent, primarily as a result of higher volumes related to acquisitions.
Net income and earnings per share were unchanged, principally due to higher revenues being offset by margin pressures.
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