TransForce announces 47 percent sales increases for 1999-2000

TransForce Inc., Canada’s largest trucking group, has reported extensive sales increases and net earnings for 1999-2000.

One of the few Canadian transport companies that lists common shares on the Toronto Stock Exchange (TSE), TransForce announced sales of $278,162,000 for the year ended April 29, 2000-a 47.6% increase from $188,543,000 in sales last year. Net earnings stood at $10,531,000 ($0.34 per share)-a rise of 58.7%, compared to $6,635,000 in net earnings for 1998-1999.
The fourth quarter of 1999-2000 showed to be extremely profitable with sales totaling $113,022,000. That’s over 90% more than for the same period last year.

The Saint Laurent, Que.-based company credits the rapid growth to solid synergy between its subsidiaries, such as Cabano Kingsway and Transport Papineau.
Corporate acquisitions, such as TST Solutions, also played a key role in the major market growth. TransForce added that TST’s contribution is expected to increase even further these next few months after being acquired only at the end of this last quarter.