Operating profits at Menlo Worldwide Logistics rose 4.9 per cent in the second quarter to $12.7m on sales up 13.7 per cent to $448m.
It said new business revenues, increased freight brokerage volumes and gains from warehousing and transport management services contributed to the higher revenues. The rise in operating profit was down to higher profits in transport management services, notably an increased contribution from international operations.
“New business revenues coupled with growth in existing warehousing and transport management accounts supported Menlo’s improved results over last year,” said Douglas Stotlar, president and CEO of parent group Con-way Inc.
“Our logistics company continues to create efficiencies for customers through its proven lean practices and superior operational execution.”
The group as a whole saw a 33 per cent rise in operating profit to $80.1m on sales up 7.2 per cent to $1.455bn.
* Last month, Menlo strengthened its European management team with the appointment of three general managers.
