CALGARY, AB – The bulk trucking company Trimac Transportation Ltd. reported an upturn in profits in the third quarter of the year as it announced new leadership.

Net income totaled $6.1 million, or 21 cents per diluted stare, compared to $5.1 million, or 18 cents per dilutde share, for the third quarter of 2014.

This happened as total revenue fell to $100.3 million from $114.6 million a year earlier.

Revenue before fuel surcharges decreased 6.4 percent, or $6.5 million, primarily due to reduced economic activity in western Canada in the bulk trucking segment, according to the company.

Although Trimac continued to face revenue shortfalls during the third quarter compared to the prior year’s third quarter due to the economic downturn from low oil and gas prices in the western Canadian provinces, the company said it made significant inroads in the execution of its strategic plan which led to a 13.2 percent increase in earnings before income tax expense.

“This increase in earnings was the result of lower administration costs, reduced capital expenditures resulting in lower depreciation expense, and lower long‐term debt balances resulting in lower interest costs,” Trimac said in a statement. “Management estimates that Trimac is approximately 70 percent through the process of implementing operational excellence, with the majority of the remaining initiatives being implemented over the next nine months.”

Meantime, Trimac announced that the company’s board or directors is appointing Mathieu Faure as its new CEO, effective Jan. 1, 2016. This follows an announcement a year ago by Jeffrey J. McCaig that he would be leaving the position but staying on as chairman of the board.

Faure comes to Trimac with over 20 years of leadership experience within the North American transportation industry including 13 years of direct experience in trucking, initially with Group Paquin Inc. and then Groupe Robert Inc., according to Trimac. His various management responsibilities covered all aspects of trucking & terminal operations and business development in Canadian and U.S. markets.

There is more financial information on the company website.