Celadon 3Q profit jumps 50 percent

The Celadon Group says its third-quarter earnings are 50 percent higher than the same quarter in 2011, riding a wave of higher revenue and lower operating costs. 

Celadon says its profit rose from $5.5 million for the quarter in 2011 to $8.3 million this year. They’d raised rates 2.2 percent and saw a decrease in overall costs related to fuel and operations. 

Overall miles did decrease, though, citing a weaker freight environment, but revenue increased 6.5 percent to $153.3 million for the quarter.