Salaries and Fuel Expenses Increased in Fourth Quarter
OTTAWA — Vehicle fuel expenses increased by 17.3 percent in Q4 2011, reported Statistics Canada — probably no surprise to the majority of carriers.
StasCan said that trucking companies reported increases in fuel expenses averaging 18 percent in 2010 and 2011. "Accordingly, the contribution of fuel expenses to total expenses rose from 17 percent during the first quarter of 2009 to over 21 percent in the fourth quarter of 2011."
In addition to the rise in fuel expenses, salaries, wages, and benefits also increased by the tune of 8.6 percent. All other operating expenses stayed relatively steady, Statscan reported.
In terms of operating revenue, companies earned $11.3 billion in operating revenue, up 5.7 percent from Q4 2010. Operating expenses came in slightly lower, increasing to $10.1 billion, resulting in firms generating $1.2 billion in operating profits, a 6 percent increase.