Livingston International Posts 2008 Loss

Canadian customs broker and logistics firm Livingston International Income Fund posted a 2008 net loss of C$88.9 million on revenue of C$322.9 million.

President Peter Luit said business fell off sharply in the fourth quarter and that the company was prepared for “a difficult year ahead.”

Livingston said revenue in the fourth quarter declined 12.4% and losses increased to C$119.8 million from C$24.7 million in the same period a year ago, mostly due to the write off of goodwill associated with its customs brokerage operations.

Livingson is ranked No. 48 on the Transport Topics Logistics 50 listing of North American logistics companies.