Corporate operating profits up 1.4 per cent in Q4: StatsCan

OTTAWA – Statistics Canada says Canadian corporations reported $72.5 billion in operating profits in the fourth quarter, up 1.4 per cent from the previous quarter.

It says this was well below the 3.9 per cent increase recorded in the third quarter.

It says operating profits increased in 13 of 22 industries, with insurance carriers and related activities reporting the highest increase, a rise of 29.7 per cent to $2.4 billion.

Profits in construction rose 12.7 per cent to $4 billion, while information and cultural industries increased 7.4 per cent to $5.9 billion.

In the non-financial sector, fourth quarter operating profits rose 2.1 per cent to $53.1 billion after a 3.4 per cent increase the previous quarter.

In the financial sector, operating profits slipped 0.4 per cent to $19.4 billion, after rising 5.3 per cent in the third quarter.