Knutsford Express Services is reporting a dip in net profit for the second quarter ending November 30, 2019.
Net profit declined by 47.3%, moving from $36 million during the same period in 2018 to $18.9 million in this first quarter report.
The company's share price was also slashed in half, moving from eight cents per share to four cents per share.
However, revenues went up by 7.8% totalling $282 million.
The company says this was due to continued demand for its passenger and courier services.