Canadian Pacific’s Profit Improves

Canadian freight railroad Canadian Pacific’s fourth-quarter net income increased 27.1% to C$185.8 million, or C$1.09 per share, from C$146.2 million, or 87 cents, a year earlier.

Revenue rose 13% to C$1.3 billion, the rail line said in a statement. Its operating ratio improved by 360 basis points to 77%.

Intermodal revenue rose to C$339.6 million from C$308.9 million, CP said.

For the full 2010 year, profit gained 18.3% to C$650.7 million, or C$3.85 per share, from C$550 million, or C$3.30. Revenue rose 13% to C$5 billion.