July 25, 2012 / 12:19 PM / 5 years ago

CN Railway profit rises on higher freight volumes

July 25 (Reuters) - Canadian National Railway Co, Canada’s biggest railroad, reported a 17 percent rise in second-quarter profit as freight volumes increased across commodity groups.

Net income rose to C$631 million ($618.8 million), or C$1.44 per share, from C$538 million, or C$1.18 per diluted share, a year earlier.

On an adjusted basis, the company earned C$1.50 per share.

Earlier on Wednesday, Canadian Pacific Railway, Canada’s second-biggest railroad operator, reported a 20 percent drop in quarterly earnings due to the impact of a strike by its engineers in May and management transition costs.

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