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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)
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