COMPETITION WATCH: Clarke Inc. breaks records in Q2
HALIFAX, N.S. — Clarke has announced it set another record during the second quarter of 2007 for both the three- and six-month periods ending June 30.
It credits its investment performance and improved results in its freight transport segment for the strong results.
“Our disciplined investment strategy is the cornerstone of our growth – in the second quarter of 2007, our investment segment delivered more than a 1,000% increase in earnings over the same quarter last year,” said George Armoyan, president and CEO of Clarke Inc. “In fact, as a result of the growing returns from our investment segment and the improved results from our freight transportation segment, in the second quarter of 2007 alone we posted higher income from continuing operations than the company has ever delivered in any previous 12-month period. We are very proud of this record result, which motivates us to continue reaching for further success on behalf of our shareholders.”
The freight transportation segment saw its EBITDA surge $2.5 million to $5.1 million in the three months ended June 30. The company says considerable improvements in its intermodal business are responsible for the increase.
The company says its predicting further growth for its freight transportation segment, under the leadership of chief operating officer Dean Cull. New strategies implemented in the last quarter have already begun to yield results in the transportation segment, the company said.
“We expect these strategies to deliver continuing improvements in the quarters ahead,” said Armoyan.
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