CP sees profit doubling with longer trains
Canadian Pacific Railway Ltd. (CP) plans to more than double profit in four years as Chief Executive Officer Hunter Harrison seeks to improve efficiency by running longer, faster trains at Canada’s second-largest railroad.
Revenue will probably climb to C$10 billion ($9 billion) in 2018 from last year’s C$6.1 billion, the Calgary-based railroad said yesterday in a statement. Harrison discussed the forecast as he addressed analysts and investors in White Plains, New York, at the start of a two-day briefing.
Read the complete story at Bloomberg Businessweek.