COMPETITION WATCH: Diversification drives profit for Trimac
CALGARY, Alta. — Trimac has credited its “diversification by customer, industry, product and geography” with its ability to post a profit in a challenging operating environment.
The company’s fourth quarter profit of $3 million was up from $2.2 million the year before but its full year profit of $13.8 million was down from $17.4 million in 2007. Revenue was down 1.2% on the year and 1.5% for the fourth quarter, the company reported.
“Despite growing economic uncertainty and a challenging operating environment in central Canada, Trimac experienced solid results in the quarter and for the year,” said Jeffrey McCaig, chairman, president and CEO of Trimac.
Trimac’s western division saw revenue increase by 2.3% (or $4.5 million) for the year and its eastern division saw revenue decline 3% ($3.5 million).
Revenue generated by Trimac’s bulk trucking operations was up 0.3% for the year and down 1.6% in the fourth quarter compared to the same period the year before.
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