Cargojet breaks even in first quarter compared with a profit a year ago

MISSISSAUGA, Ont. – Cargojet Inc. broke even for its most recent quarter compared with a profit of $4.5 million a year ago as its revenue grew by 11.3 per cent.

The company, which provides time sensitive overnight air cargo services, says the result for the quarter compared with a profit of 33 cents per diluted share in the same quarter last year.

Revenue for the three months ended March 31 totalled $110.4 million, up from $99.2 million in the first three months of 2018.

The company also announced that its common and variable voting shares will trade on the Toronto Stock Exchange under a single ticker designated CJT starting on or about Wednesday.

Cargojet says it common and variable voting shares will also now be treated as a single class for the purposes of takeover bid requirements and early warning reporting requirements.

It says the changes are intended to make investment by non-Canadians easier and improve the liquidity for the variable voting shares.

Companies in this story: (TSX:CJT)