C H Robinson Q2 profit up 10%

Source: Supply Chain Digital

Date :7/24/2008 1:40:09 AM

C H Robinson Worldwide Inc yesterday, July 23, reported a 9.9 percent increase for the second quarter despite the “challenging” environment.

The 3PL company said operating income rose 11.3 percent to US$144.5 million for the three months to June 30 from US$129.8 million a year earlier.

Gross profit rose 9.7 percent to US$341.2 million.

“We are pleased that in a tough freight environment, our people continued to do a good job finding opportunities in the marketplace,” said John P Wiehoff, chairman and chief executive.

“While the environment is still challenging and our truckload gross profit margins continue to be compressed in the first part of July, we continue to feel very positive about our long-term growth strategy and our business model.”

Transportation

Total Transportation gross profits increased 9.7 percent to US$297.5 million in the second quarter of 2008 from US$271.1 million in the second quarter of 2007.

C H Robinson said the 8.3 percent growth in truck gross profit was driven by volume growth, offset by declines in our truckload gross profit margins.

Truckload volumes increased approximately 11 percent in the quarter.