Canadian Pacific finances up 48% on 2013

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Canadian Pacific (CP) has celebrated the “strongest financial results in company’s history” after recording a 47 per cent year-on-year increase in net income.

Operating income rose by 40 per cent to $587 million, while net income increased from $252 million in 2013 to $371 in 2014.

E. Hunter Harrison, CP’s chief executive officer of CP said the company had  “delivered another record quarter”.

He added: “The team has made great strides in my two years at CP and they continue to demonstrate resiliency by delivering these results despite continued operational challenges in the US Midwest after a devastating winter.

“The future is very promising for the railroad as we transition towards leveraging our lower cost structure and improved service.”

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