CP Rail H1 profits up 47pc to US$879 million as sales rise 9.7pc
THE Canadian Pacific Railway posted a first half 47
THE Canadian Pacific Railway posted a first half 47.7 per cent year-on-year net profit increase to C$1.15 billion (US$879 million) drawn on revenues of C$3.74 billion, up 9.7 per cent.
Second quarter net profit came in at C$724 million, up 66 per cent, drawn on quarterly revenues of C$1.97 billion, an increase of 12.9 per cent. 'I commend the team for this record second-quarter performance,' said CP president and CEO Keith Creel.
'These results demonstrate the strength of precision scheduled railroading and are a testament to our collective commitment to deliver for our customers and the broader economy,' he said.
'This quarter, we saw revenue growth across every line of business, strong operating metrics, and our best-ever second-quarter performance from a workload perspective, as measured by Gross Ton-Miles,' said Mr Creel.