(Bloomberg News circulated the following article by Jeff Bennett on November 16.)
NEW YORK — Canadian Pacific Railway Ltd., the country’s second-largest railroad, said profit will rise next year because of increased efficiency.
Earnings will be C$4.30 to C$4.45 a share in 2007, the Calgary-based railroad said in a statement today. Sales will rise as much as 6 percent from 2006 because of higher prices and greater demand, Canadian Pacific said.
“Execution of our integrated operating plan is driving increased fluidity on our network and improving our operating ratio,” Chief Executive Officer Fred Green said in the statement.
The company was expected to earn C$4.50 a share in 2007, the average estimate of 11 analysts surveyed by Thomson Financial.