Patriot Transport profit up 28%
Jacksonville-based Patriot Transport Holding Inc., a holding company that owns two Southeast regional trucking companies, reported net income from continuing operations of $2.18 million for the fourth quarter of it fiscal year ending Sept. 30, an increase of 28 percent.
Patriot's wholly owned subsidiaries Florida Rock & Tank Lines and SunBelt Transport carry bulk and construction industry flatbed loads, respectively. The holding company also includes its separate real estate operations when reporting its overall results.
Transport segment revenues reached $29.6 million, an increase of $3.8 million compared to the fourth quarter of fiscal year 2004. Transportation operating profits for the quarter came to $1.7 million, up from $1.5 million in 2004.
In its outlook statement, the company said favorable demand for freight hauling will continue to be challenged by tight driver availability.