Mullen’s 2Q Income Improves

Canadian transportation firm Mullen Group Income Fund’s second-quarter profit rose to C$19.9 million, or 25 cents a unit, from C$16.6 million, or 21 cents, a year ago.

Revenue rose to C$249.1 million, from C$218.9 million a year ago, the company said late Tuesday.

Mullen, which also has oilfield services, attributed the revenue downturn to lower natural gas drilling activity in Western Canada.

Trucking and logistics operating income rose to C$17.7 million, from C$14.6 million, while revenue rose to C$117 million, from C$106.1 million.

Mullen is ranked No. 63 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.