The Canadian Pacific Railway has posted a 68 per cent year-on-year increase in net profit in 2014 to C$1.47 billion (US$1,18 billion), drawn on revenues of C$5.8 billion, up eight per cent, according to Shipping Gazette.
Quarterly net profit increase was a record C$451 million, drawn on revenues of C$1.76 billion, up 10 per cent.
This broke down into domestic intermodal revenue increases of 19 per cent to C$787 million while international intermodal movement fell nine per cent to C$588 million.
"I am proud of the team at CP, which continues to build momentum. In two years, CP has transformed from an industry laggard into a railway leader," said CEO Hunter Harrison, former CEO of CP's chief rival, the Canadian National Railway.
"CP's remarkable transformation has allowed it to exceed its operational and financial goals for 2014, positioning the company to be nimble in the near-term and successful in the long run," Mr Harrison said.
"CP fully recognises the impact of short-term volatility in commodity prices, but given the diversity of its business and proven ability to control costs, we're confident in our ability to execute on our plan going forward."
"We are just getting started," Mr Harrison said.
Full year freight revenue increased eight per cent to C$6.4 billion, and increasing nine per cent in the last quarter to $1.7 billion.
This broke down by commodity for 2014 as Canadian grain up 14 per cent to C$988 million, American grain up 17 per cent to C$503 million, coal down one per cent to C$621 million, potash up 11 per cent to C$347 million, fertilisers and sulphur down nine per cent to C$234 million, forest products the same at C$206 million, chemicals and plastics, up 13 per cent to C$637 million, crude up 29 per cent to C$484 million, metals, minerals and consumer products up 17 per cent to C$712 million, automotive down 11 per cent to C$375 million.