January 29, 2014 / 12:52 PM / 4 years ago

CP Rail's profit jumps helped by higher freight revenue

Jan 29 (Reuters) - Canadian Pacific Railway , Canada’s second largest railway, reported a five-fold jump in fourth-quarter profit, as freight revenue rose 7 percent.

The company said it expects 2014 adjusted earnings to increase 30 percent or more compared with 2013.

Net profit rose C$82 million ($73 million), or 47 Canadian cents per share, in the fourth quarter, from C$15 million, or 8 Canadian cents, a year earlier.

Revenue was up 7 percent to C$1.6 billion.

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