Wednesday, January 26, 2011

CP profit climbs 27%

The Calgary-based company, Canadian Pacific Railway Ltd. has surpassed analyst profit estimates by a 13% revenue increase in the fourth quarter from the same time last year. With gains across all of its business lines, the company states that its profits for the three months ended Dec 31 was $186-million, up 27% from $146.2-million since the previous year.

Despite the increased volume in the trucking industry, there is still a demand for transportation modes such as rail. The CEO of CP Fred Green is quoted saying “We continue to see strong demand for rail service across all lines of business.” contains more details on the post.

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