Mullen Group’s 3Q Income Jumps

Canadian transportation firm Mullen Group said its third-quarter profit increased almost 300%, primarily from foreign exchange-rate accounting, though its operating income fell 13.2%.

Net income jumped to C$42.9 million, or 52 cents per share, from C$11.3 million, or 14 cents, a year ago.

Revenue fell 6.8% to C$335 million and operating income dropped to C$70.4 million.

Mullen’s trucking and logistics segment’s revenue rose 3.1% to C$133.7 million, while oilfield services revenue fell 12.2% to C$202.9 million.

Mullen Group is ranked No. 51 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.