The Mississauga, Ont.-based air cargo company posted a third-quarter net profit of $83.4 million compared to a loss of $12.9 million during the same quarter last year. Its shares closed up 2.15 per cent Monday. (The Logic)
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The Mississauga, Ont.-based air cargo company posted a third-quarter net profit of $83.4 million compared to a loss of $12.9 million during the same quarter last year. Its shares closed up 2.15 per cent Monday. (The Logic)
Talking point: During the company’s second-quarter earnings call in July, president and CEO Ajay Virmani said he was bullish on the long-term growth of online shopping. Increasing global e-commerce demand has helped grow the company’s domestic and leasing business in the third quarter. However, the firm said it’s also monitoring the risk of a recession, which might reduce consumer spending and impact freight. “Cargojet continues to carefully manage its strategy to match the capacity required with actual consumer demand,” said Virmani in a statement Monday.
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