Tal reports Q2 profit growth
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- August
- 6
Tal International Group Inc., the Purchase-based company that leases freight containers and chassis, doubled its second-quarter profit to $40.3 million, or $1.23 a share, as leasing revenues rose.
Brian M. Sondey, the company’s president and chief executive, said the performance reflected growth in the company’s fleet and high utilization.
“In the second quarter, we experienced strong leasing demand for of our major container types, as we continued to benefit from solid global containerized trade growth and reduced direct purchases of containers by our customers,†he said in a statement released by the company.
A year earlier, the company earned $20.8 million, or 62 cents a share.
Leasing revenues rose to $77.9 million from $68.8 million, the company said.
Tal says its pre-tax results are the best gauge of its performance. Its adjusted pre-tax income, not counting gains and losses on interest rate swaps, was $26.6 million, compared with $21.1 million a year earlier.
This entry was posted
on Wednesday, August 6th, 2008 at 7:21 am by Allan Drury.
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