UTi’s second quarter profit up 6%
UTi Worldwide Inc., a Rancho Dominguez, Calif.-based forwarding and logistics company, posted fiscal second quarter net income was $16.6 million up 6 percent compared to $22.3 million a year ago.
“The integration of Market Industries is progressing well, and we continue to see cross-selling opportunities, especially with the addition of truck brokerage solutions to our capabilities,” said Roger I. MacFarlane, chief executive officer of UTi.
The company’s second quarter operating income for its fiscal year ending July 31 improved 18 percent to $39.7 million from $33.6 million.
Revenue jumped 30 percent to $890.1 million with air freight forwarding revenue up 14 percent to $341.5 million. Revenue from ocean freight forwarding increased 16 percent to $234.2 million.