HALIFAX, N.S. — Clarke Inc. concluded its best ever year in 2007, thanks largely to the success of its freight transportation segment.
“Management is proud to have delivered in 2007 the best one-year performance Clarke has ever seen,” the company announced in its financial statements. “The company was able to successfully realize gains on investments made during the year and in prior periods. The results delivered in the fourth quarter of 2007 reflect the more challenging market conditions faced by Clarke and the businesses in which it was invested during the period.”
Transportation helped bring Clarke’s revenue to $10.5 million for the quarter ended Dec. 31, 2007, a 20% gain over the same period in 2006. Transportation revenue was up by $5.6 million compared to the same period the previous year, which the company says is due to improvements in its intermodal operations.
Over the entire year, the Freight Transportation segment increased EBITDA $5.6 million from $8.7 million in 2006 to $14.3 million. However, the low 2006 figures were in part due to a lockout of dock workers at Clarke’s Toronto terminal during January and February of that year.
Looking ahead, Clarke management predicts the Freight Transportation segment will continue to perform well in 2008.
“This segment’s impressive 2007 performance is a strong indication of the benefits of Mr. Cull’s (COO Dean Cull) leadership, even in a year in which the transportation industry was negatively impacted by labour disruptions in rail services,” the company announced. “Clarke has a flexible business model that allows it to react to diverse opportunities.”
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