Relocation Business Booms for Sirva

Chicago-based global moving company Sirva said its net income in the second quarter increased over 65% to $17.5 million on 15.4% higher operating of $668.8 million compared to the same period last year. The strength of U.S. residential moving activity contributed, the company said.

Sirva said operating revenue in moving services grew 10% on strong shipments across consumer, military/government and corporate segments. Corporate shipments were higher on a year-over-year basis for the first time in 14 quarters. On average, the company said it conducts more than 365,000 relocations per year across all of its markets.

With strong performance in the first half of the year, the company said it remains confident that it will earn $1.17 to $1.20 per share in 2004.