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Canadian Pacific profit off 17pc, revenue up 1pc to US$1.19 billion
CANADA's No 2 rail operator, the Canadian Pacific Railway (CP), has announced that first quarter profit - earnings per share - fell 17 per cent year on year, drawn on revenues of C$1.6 billion (US$1.19 billion), which increased one per cent.
"Thanks to our hard-working employees, industry-leading operating model and commitment to service, we produced solid results this quarter," said CP president and CEO Keith Creel.
"We turned a corner in March and are now seeing positive volumes, which makes us cautiously optimistic that the demand environment is improving," he said.
"Given the strength of our foundation, rooted in precision scheduled railroading, we are well positioned to write the next chapter of this story - one that focuses on sustainable, profitable growth," Mr Creel said.
"Thanks to our hard-working employees, industry-leading operating model and commitment to service, we produced solid results this quarter," said CP president and CEO Keith Creel.
"We turned a corner in March and are now seeing positive volumes, which makes us cautiously optimistic that the demand environment is improving," he said.
"Given the strength of our foundation, rooted in precision scheduled railroading, we are well positioned to write the next chapter of this story - one that focuses on sustainable, profitable growth," Mr Creel said.
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