WOODSTOCK, ON — Internal growth, recent acquisitions and a focus on operating efficiency have given Contrans strong results for the second quarter, said Stan Dunford, Contrans’ chairman and CEO, in a statement released today.

Contrans reported a net income of $8.1 million in the 2012 Q2, up from the $5.2 million they earned last year for the same period. 

This year, Contrans invested $15.7 million in capital expenditures, of which $4.0 million was invested to get new tractors and trailers to support internal growth.

Acquisitions completed in 2012 and in the second half of 2011 contributed approximately $11.4 million of revenue from transportation services in 2012 Q2. The company also gained several big customers, increasing revenue.

“Management has been very adept at assessing the long-term potential of acquisition targets and distinguishing those that enhance Contrans’ value and stability from those that do not,” Dunford said.

Dunford added that the company has concentrated in acquiring businesses in their area of expertise and that management has reacted quickly to growth opportunities even during challenging economic times.

“I expect Contrans’ operations will continue to perform well in the second half of 2012” Dunford said. “I also believe that there will be increased mergers and acquisitions activity in the transportation industry.”

Dunford said their focus for the past two decades has been on slow and steady growth, an approach that they won’t be abandoning anytime soon.