WOODBRIDGE, ON – A trucking operations that bills itself as one of the fastest growing in Canada lived up to its claim in the third quarter of the year with big increases in profitability and revenue.
Titanium Transportation Group Inc. reported revenue grew 40 percent from a year earlier to $27.2 million as earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 93% to $2.9 million.
Truck transportation revenue rose to $18.1 million, a 46 percent increase over the third quarter of 2014 as truck transportation EBITDA margin increased to 13.3 percent from 9.2 percent.
Logistics revenue rose to $9.4 million, a 30 percent increase over the third quarter of 2014 while logistics EBITDA margin increased to 11.4 percent from 8 percent.
The asset-based transportation and logistics company servicing Canada and the U.S. said it has brought in $1.4 million so far this year in sales of aged equipment it acquired with its purchase Muskoka Transport Ltd. earlier this year.
“Titanium’s diverse customer base and core operations continue to provide a strong platform for future growth,” said Ted Daniel, CEO. “Titanium is well positioned to execute its consolidation strategy with a strong balance sheet and substantial undrawn credit facilities.”
Titanium has approximately 350 power units, 1,000 trailers and 400 employees and independent truck drivers.
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