Mullen’s Fourth-Quarter Income Improves

Canadian transportation firm Mullen Group said its fourth-quarter profit grew 56.3% to C$11.1 million or 14 cents per share, from C$7.1 million, or 9 cents per share, a year ago.

Revenue fell 34.2% to C$233.6 million, the company said in a statement Thursday.

Trucking and logistics operating income dropped 38.8%, to C$14.8 million, while revenue fell 27.7% to C$146.1 million.

For the full year 2009, Mullen’s profit fell 19.6% to C$90.8 million, or C$1.13 per share, from C$113 million, or C$1.40, in 2008.

Revenue dropped 25.6% to C$978 million.

Mullen, which also has oilfield services operations, is ranked No. 56 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.