CALGARY—Canadian Pacific Railway Ltd., under fire from a dissident investor who wants major changes at the company, said Thursday that efforts to boost efficiency helped improve its fourth-quarter profit by 19 per cent.
The Calgary-based railway said it earned $221 million, or $1.30 per share for the quarter ended Dec. 31, compared with a profit of $186 million a year ago, or $1.09 per share.
Revenue grew to $1.4 billion in the last three months of 2011, compared with $1.29 billion in the same period a year earlier. However, the company’s operating expenses were also higher, rising $109 million to $1.1 billion. Continued