Canadian Pacific Railway said it had a profit of $224 million, an 20 percent increase over the $187 million earned in the third-quarter of 2011.
Total revenues were $1.5 billion, an increase of $110 million, or 8 percent.
E. Hunter Harrison, president and chief executive officer, said the company has “implemented new services; closed terminals and certain yard operations; and we’ve put a new leadership team in place. The team has made significant progress on operational improvements, controlling costs and on delivering results.”
Harrison became CEO this summer after a proxy fight led by the investor Bill Ackman forced the resignation of former CEO Fred Green and several other board members. – Chris Dupin
CP sees 20% increase in profit
