Cargojet posts a pre-tax profit of C$4.2 million in the second quarter

Cargojet Inc. (Cargojet Airways) (Hamilton) announced today financial results for the second quarter ended June 30, 2013 (all dollar figures are stated in Canadian dollars) .

For the Second Quarter Ended June 30, 2013:

  • Total Revenues were $42.7 million , an increase of $2.2 million or 5.4% versus the previous year.
  • Gross Margin was $6.3 million , a decrease of $0.9 million or 12.5% versus the previous year
  • EBITDA was $4.2 million , a decrease of $0.3 million or 6.7% versus the previous year

For the Six Months Ended June 30, 2013:

  • Total Revenues were $83.4 million , an increase of $2.8 million or 3.5% versus the previous year.
  • Gross Margin was $11.2 million , a decrease of $1.6 million or 12.5% versus the previous year
  • EBITDA was $6.9 million , an increase of $0.5 million or 7.8% versus the previous year

“Core overnight and charter revenues have shown some upward trends,” says Ajay K. Virmani, President and Chief Executive Officer.  “The major challenge we continue to face is the pricing pressures from the marketplace and we will continue to ensure strict cost control and prudent financial management to ensure our margins stay on plan,” he concluded.

Copyright Photo: Ton Jochems/AirlinersGallery.com. Boeing 757-236 (F) C-FKCJ (msn 24792) waits for its evening departure from Vancouver International Airport.

Cargojet Airways: AG Slide Show