Contrans’ Second-Quarter Income Improves
Canadian firm Contrans Income Fund’s second-quarter income rose compared with a year ago, due largely to a big income tax charge in the previous second quarter.
Net income rose to C$10.2 million, or 35 cents per unit, from C$1.5 million, or 5 cents, a year ago, the company said Wednesday.
The previous second quarter included a $7.1 million charge for future income taxes. Earnings before taxes rose to C$10.8 million, from C$9 million.
Revenue rose to C$129.7 million, from C$125.8 million, while revenue from van operations fell by $6.3 million from a year ago, Contrans said.
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Contrans is ranked No. 56 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.