CN revenues soar 11 percent

CN revenues soar 11 percent    Montreal-based Canadian National Railway Co. reported annual revenues of C$6.5 billion ($5.3 billion) for 2004, an 11 percent increase compared to the previous year.
   CN’s operating income for 2004 increased 22 percent over 2003 to C$2.1 billion ($1.8 billion). CN’s net income for 2004 was C$1.3 billion ($1 billion), compared to a net income for 2003 of C$1 billion.
   CN acquired the railroad and related holdings of Great Lakes Transportation LLC as well as BC Rail in May and June, respectively,. CN said these added C$145 million ($117 million) to its fourth-quarter 2004 revenues.
   “Central to CN’s performance was strong demand for lumber, chemicals, iron ore, coal, consumer goods from Asia, and Canadian wheat and barley,” CN said in a statement.