CP Rail posts higher net profit

Thu Jan 22, 2015 8:50am EST
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Jan 22 (Reuters) - Canadian Pacific Railway Ltd reported a much higher profit in the fourth quarter compared with the year earlier period when it took an impairment charge of C$435 million ($352.8 million).

Net income rose to C$451 million, or C$2.63 per share, in the quarter ended Dec. 31, from C$82 million, or 47 Canadian cents per share, a year earlier.

Revenue rose 9.5 pct to C$1.76 billion.

($1 = 1.2330 Canadian dollars) (Reporting by Allison Martell and Shubhankar Chakravorty)