The continued impact of lower customer demand, pricing pressures affecting its core overnight network and a strong Canadian dollar hurt results, the company said.
For the first quarter ended March 31, the fund reported net earnings of C$338,000, or 5 Canadian cents a share, down from C$1.2 million, or 18 Canadian cents a share, a year ago.
Total revenue rose marginally to C$42.6 million ($40.9 million) from C$42.2 million last year.
Direct expenses increased 9.3 percent to C$35.1 million for the quarter, hurt by increased maintenance costs. (Reuters)