Ryder System recently reported a 12 percent rise in fourth-quarter profit. The company posted a profit of $65.8 million, up from $58.8 million during the same period a year ago. Revenue rose 3.2 percent to $1.59 billion, up from $1.54 billion during the same period in 2005.
Sales in the fleet management solutions segment, the company’s biggest division, slipped 1 percent to $1.01 billion due to lower fuel volume and pricing resulting from market cost decreases. An increase in subcontracted transportation and new business helped push revenue in the supply chain solutions business up 13 percent to $482.7 million.
“Based on the momentum of our contract-related business in all segments, we enter 2007 well positioned to deliver on our profitable growth objectives,” said Greg Swienton, chairman and chief executive officer of Miami-based Ryder.
Ryder’s full fleet consists of more than 160,000 vehicles, including tractor-trailers and light-duty trucks, and services 15,000 customers, the company said.