CALGARY - Canadian Pacific Railway Ltd. (TSX:CP) says efforts to boost efficiency helped improve its fourth-quarter profit by 19 per cent.
The Calgary-based railway said net earnings came in at $221 million, or $1.30 per share.
That compares to a profit of $186 million a year ago, or $1.09 per share.
CP says its revenue grew to $1.4 billion from $1.29 billion.
However, the company's operating expenses were also higher, rising $109 million to $1.1 billion.
CP Rail has been under fire from dissident investor William Ackman who wants major changes at the top of the company, including new members on its board of directors and a new chief executive officer.
