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Union Pacific Q2 profit up 19pc to US$1.2 billion, sales up 10pc
AMERICA's biggest railway, the Omaha-based Union Pacific (UP), increased second quarter net profit 19 per cent year on year to US$1.2 billion, drawn on operating revenues of $5.3 billion, which were up 10 per cent.
Volume, as measured by total revenue carloads, rose five per cent from the second quarter of 2016. "Volume increases in coal, industrial products, agricultural products and intermodal more than offset declines in chemicals and automotive," the company statement said.
"In this environment, we will focus on our growth opportunities," said UP chairman, president and CEO Lance Fritz.
"We will continue to make progress to make Union Pacific a stronger, more efficient company. We are confident these efforts will generate top-line growth and greater returns for our shareholders," said Mr Fritz.
Volume, as measured by total revenue carloads, rose five per cent from the second quarter of 2016. "Volume increases in coal, industrial products, agricultural products and intermodal more than offset declines in chemicals and automotive," the company statement said.
"In this environment, we will focus on our growth opportunities," said UP chairman, president and CEO Lance Fritz.
"We will continue to make progress to make Union Pacific a stronger, more efficient company. We are confident these efforts will generate top-line growth and greater returns for our shareholders," said Mr Fritz.
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