Net profits rose slightly from $C 607 million ($US 573 million) to $C
612 million, despite an 18% dip in revenues from $C 5.2 billion to $C
4.3 billion. Operating expenses fell 17% from $C 1 billion to $C 853

"We have come through an extraordinary year of economic
challenges and we met these with focussed productivity initiatives that
have delivered sustainable improvements," says CP president and CEO Mr
Fred Green. "Markets remain uncertain and we'll continue to drive
efficiency while delivering a reliable service. We are positioned with
assets and resources to respond to challenges in our customers'

CP plans capital investments of $C 680-730 million in 2010, of which around $C 585 million is allocated to track renewals.
Photo: Canadian Pacific Railway