CP Rail reports higher profits


Canadian Pacific Railway is reporting its revenue and earnings for the third quarter were up from last year as it saw strong demand for potash shipping and other services.

The railway says revenues of $2.31 billion for the quarter ending Sept. 30 were up 19 per cent compared with $1.94 billion in the same quarter last year.

The company says foreign-exchanged adjusted potash revenue was up 48 per cent, intermodal up 44 per cent, automotive up 31 per cent, while energy, chemical and plastics were down 10 per cent.

Net income of $891 million was up from $472 million for the same quarter last year.


More from 620 CKRM