UTi Worldwide’s 2Q Profit Jumps

Air and freight forwarder UTi Worldwide’s fiscal second-quarter net income rose to $18.9 million, or 19 cents a share, from $11.8 million, or 12 cents, a year earlier.

Revenue jumped 37% to $1.15 billion for the quarter ended July 31, the company said Thursday. Operating income rose 51% to $33.9 million.

The improved results were driven by strong volumes and better operating margins, led by airfreight and ocean freight volumes, Chief Executive Officer Eric Kirchner said.

“We continue to be encouraged by improvements in our contract logistics and distribution business, which reported solid revenue growth and higher operating margins,” he said in a statement.

The company’s UTi Integrated Logistics division is ranked No. 22 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.