Canadian Trucking Companies’ 1Q Profits Slip
Canadian trucking companies’ operating profits fell 4.7% to C$936 million in the first quarter from a year earlier, as a 6.3% increase in operating expenses outpaced operating revenue, Statistics Canada reported.
Operating revenue rose 5.2% to C$10.1 billion from the same quarter last year, the government agency said. Operating expenses rose to C$9.2 billion, from C$8.6 billion a year earlier.
Fuel expenses increased 15.2%, mostly as a result of higher prices, with consumption up 2.5%, Statistics Canada said.
Companies whose main activity was long-distance trucking were bore the brunt of the decline, with their operating profits falling to C$392 million, from C$527 million a year ago.
