CALGARY, Alta. — Trimac Income Fund has reported strong results for the third quarter with a 5% increase in revenue to $88.0 million and a 9% improvement in EBITDA to $12.8 million. Strong revenue growth in the British Columbia and Prairie Provinces operations, and a short-term contract positively influenced revenues in the quarter, company officials said. However Trimac officials said that those improved revenues were partially offset by reduced volumes in the woodchip and central Canadian operations.
The companys western division experienced strong revenue growth in British Columbia and the Prairie Provinces, which grew by 16.2%. Partially offsetting this growth was a 26.0% decline in woodchip revenue. In the current quarter total revenues were $52.6 million, an increase of approximately 9% over the same quarter last year.
Eastern division experienced a modest decline in revenue to $28.9 million in the quarter that was predominantly the result of business losses due to highly competitive market conditions and lower revenue with existing customers in central Canada, according to Trimac officials.
Bulk Plus Logistics experienced strong revenue growth of approximately 55% to $6.5 million, as a result of increased volumes from a short-term contract in the freight brokerage business, the company said.
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