Saturday, December 20th1.4°C
24563
23931

Clarke reports sale of trucking business boosts Q1 profit up from year ago

HALIFAX - Clarke Inc. (TSX:CKI) said Monday it earned $73 million in its latest quarter, boosted by the sale of its trucking and freight logistics businesses.

The investment firm said the profit amounted to $3.03 per diluted share in the quarter ended March 31, up from $3.1 million or 19 cents per diluted share a year ago.

Clarke said the sale of the trucking and freight logistics businesses added $66.4 million to the quarter, while it also had $9 million in realized and unrealized gains on marketable securities and $4.7 million from the sale of its stake in Gestion Jerico Inc.

The company holds a 5.4 per cent stake in Sherritt International Corp. (TSX:D) and is leading a fight for three seats on the mining company's board of directors and the replacement of CEO David Pathe.

In addition to the board representation, Clarke is also seeking changes to Sherritt's bylaws to require unanimous board support for any major acquisition and on how both Sherritt directors and executives are paid.

Sherritt's annual meeting will be held Tuesday.

The investment in Sherritt represents about 41 per cent of Clarke's portfolio of public companies.

Clarke's other public company investments include Supremex Inc., TerraVest Capital Inc., Royal Host Inc. and SpyGlass Resources Corp.

The company also owns a passenger ferry in Quebec, a container ship in the Caribbean and other private investments.

The Canadian Press


Read more Business News

24175


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
24130


24153

FEATURED Property
19713755670 Rittich Road
10091800 bedrooms
$1,200,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24476

24476


Member of BC Press Council


22842