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Canada : CANADIAN PACIFIC RAILWAY records 47% increase in net income during second quarter

July 19, 2014

For the second quarter of 2014, Canadian Pacific Railway (CP) has announced net income of $C 371m, an increase of 47% on the $C 252m net income announced for the second quarter of 2013.

During the second quarter, total revenue increased by 12% to $C1.68bn, while operating costs was increased by only 2% to $C 1.09bn. Operating income during second quarter was up by 40% as against the number recorded during the corresponding period in 2013 of $C 587m.

CP recorded an operating ratio of 65.1% for the second quarter, a 680 basis point improvement over the second quarter of 2013.

Mr Hunter Harrison, CEO of CP said that, CP delivered another record quarter. The team has made great strides in my two years at CP and they continue to demonstrate resiliency by delivering these results despite continued operational challenges in the US Midwest after a devastating winter. The future is very promising for the railroad as we transition towards leveraging our lower cost structure and improved service.

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Source: TendersInfo (India)

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