Cargojet: strong Q4 financial performance

Date: Tuesday, March 13, 2018
Source: Air Cargo News

Canadian overnight all-cargo carrier Cargojet has posted revenues of $118.2m for the fourth quarter ended December 31 2017 – an impressive rise of 25.6% over the same period of the previous year.

The gross margin for the quarter was $37.4m, representing an increase of 36% compared to the previous reporting period.

For the full year, revenues were up 15.7% at $382.9m and the gross margin stood at $106.3m (up 23.9% year on year) .

Ajay Virmani, president and chief executive, said:  “We continue to execute our plan to optimise our overnight network and to improve aircraft utilisation while meeting the growing demands of e-commerce activity.

“These results are a testament to the tremendous efforts of the entire Cargojet team as we continue to focus on prudent cost controls and revenue growth while continuing to provide a value-added service to our customers,” he added.

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