TransForce sees Q4 profits of $43.2M, revenue balloon on acquisitions
MONTREAL – The completion of a number of acquisitions, including the takeover of Ontario-based Contrans trucking group, helped boost profits at TransForce Inc. (TSX:TFI) to $43.2 million in the latest quarter.
The profit amounted to 31 cents per dilluted share for the period ended Dec. 31. This compared to $12.3 million, or 13 cents per share, year over year.
Revenue at the Montreal-based company, which provides trucking and courier services, climbed to $1.074 bililon for the quarter, versus $792.5 million a year earlier.
TransForce announced a $495-million cash takeover offer for Contrans last year.
The company said revenue was “stable” when excluding the acquisitions.
“In the fourth quarter, acquisitions boosted total revenue above the one-billion mark for the first time ever,” said Alain Bedard, chairman, president and CEO at TransForce.
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