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.