Cargojet profits down

Canadian overnight air cargo shipper Cargojet says its Q2 profits fell after higher costs offset growth in revenues.

Net income was C$286,204 for the three months ended June 30, versus C$2.2 million a year ago on revenues of C$37.8 million, up from C$34 million.

However, direct expenses grew 19.7 per cent to C$29.2 million.

The firm said it hoped to build yield during the rest of the year.

Canadian overnight air cargo shipper Cargojet says its Q2 profits fell after higher costs offset growth in revenues.

Net income was C$286,204 for the three months ended June 30, versus C$2.2 million a year ago on revenues of C$37.8 million, up from C$34 million.

However, direct expenses grew 19.7 per cent to C$29.2 million.

The firm said it hoped to build yield during the rest of the year.