Wednesday, August 12, 2009

Celadon Trucking Group announce Profit Freefall

Major NAFTA haulier finding times tough
Shipping News Feature

US – Celadon Group Incorporated, the Indianapolis based US freight trucking group, have announced a massive drop in profits for their fourth fiscal quarter.

Profit was $ 200,000, down from over $ 2 million. In its fiscal year ending June 30, Celadon earned $2.6 million on revenue of $490.3 million. This represents a reduction from a profit of $6.5 million in 2008’s financial year.

In a statement CEO Steve Russell said: "Although the freight environment continued to reflect the weakness of the US economy, we did achieve more than a seasonal pickup in shipments progressively through the June quarter.”

Celadon Group Inc. through its subsidiaries, including Jaguar, provides long-haul, full-truckload freight service across the United States, Canada and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage; Celadon Dedicated Services, which provides supply chain management solutions, such as warehousing and dedicated fleet services, and TruckersB2B which provides cost savings on fuel and other products to member fleets.

https://www.celadontrucking.com/