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            july 18, 2019

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Canadian Pacific's quarterly profit declines 29pc


The Canadian Pacific Railway's fourth quarter profit slipped 29 per cent to C$319 million (US$220.9 million) in the three months ending December 31, the Calgary-based company announced.
"Despite challenging economic conditions and lower commodity prices, we continue to focus on what we can control - lowering costs, creating efficiencies and improving service," said CEO Hunter Harrison.
CP, the unwanted suitor of US railroad Norfolk Southern Corp, reported a lower-than-expected quarterly profit as falling prices for commodities such as oil and coal hit freight volumes, Reuters reported.

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