CALGARY, Alta. — Trimac Income Fund revenue in the second quarter of 2006 grew by $2.0 million to $79.4 million over the prior year’s quarter. Overall revenue for the first six months of the year increased by $9.4 million to $160.0 million compared to $150.6 million in the prior six-month period.
“While the fundamentals of our western division business, excluding woodchips, remain strong, results were impacted by wet weather conditions and start-up costs associated with new business awards,” commented Terry Owen, president and CEO of Trimac. “We were pleased with the performance in the quarter of our eastern division and logistics businesses, although our operations in the Atlantic provinces continued to underperform as management had previously anticipated.”
The fund’s management focus for the remainder of 2006 will be to successfully integrate new business secured in the year, ensure retention and recruitment programs encourage low employee turnover and support the hiring of employees, and pursue accretive acquisitions and growth opportunities with new and existing customers.
“Strong fundamentals in the majority of the industries we serve, along with capacity shortages and new business awards, cause us to continue to be optimistic when assessing the outlook for our business,” noted Owen.
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