Weak commodity volumes hit CP Rail quarterly profit

Wed Jul 20, 2016 8:40am EDT
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July 20 (Reuters) - Canadian Pacific Railway Ltd reported a 16 percent decline in quarterly profit on Wednesday, hurt by weak commodity volumes, the Fort McMurray wildfire in northern Alberta and a stronger Canadian dollar.

Canada's No. 2 railroad said its net income slipped to C$ 328 million ($251 million), or C$2.15 per share, in the three months ended June 30, from C$390 million, or C$2.36 per share, a year earlier.

Revenue fell 12.2 percent to C$1.45 billion. ($1 = 1.3058 Canadian dollars) (Reporting by Amrutha Gayathri in Bengaluru; Editing by Ted Kerr)