( – FocusAsia Media Ltd

VANCOUVER, Jul 24 (FAM) – The Canadian Pacific Railway (CP) has posted a 46 per cent second quarter net profit increase to C$480 million, (US$380 million) drawn on revenues of $1.6 billion, up 13 per cent.

The company also reported an eight per cent increase in shipping volumes in the second quarter, but warned growth could stall if the current drought hurt wheat crops in Canada and the US. Gains were driven by the Calgary-based railway by higher volumes in bulk products such as coal, potash and grain.