CALGARY, Alta. — Increases in Trimac Income Fund’s trucking business were enough to offset the decline in logistics revenue and give the company a $3 million increase in revenue from the previous year.
“Trimac finished the year with a strong performance in the fourth quarter. Our western division experienced increased fuel surcharge recoveries and strong growth in dry bulk, petroleum, chemicals and compressed gas operations,” noted Terry Owen, president and CEO of Trimac, in a release of the company’s financial results.
Total revenues for the fourth quarter rose from $78 million in 2004 to $85 million in 2005, with $80.9 million of those revenues coming from the trucking division. Overall for 2005, company revenues reached $313 million, with the truck business bringing in nearly $297 million.
In the fourth quarter logistics operations dropped from $4.8 million in 2004 to $4.1 million in 2005 and for the year revenues dropped from $18.8 million in 2004 to $16.7 million in 2005.
“Our focus in 2005 was to improve profitability by reducing operating costs, increasing equipment utilizations and securing rate increases on non-compensatory business,” stated Owen. “This focus will continue in 2006 as we also strive to grow our revenues by expanding our business with existing and new customers and accretive acquisitions.”
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