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Corporate operating profits down 1.2% in Q1: StatsCan

Profits for manufacturing industries declined 1.0% to $12.1 billion.


May 28, 2013
by The Canadian Press

OTTAWA – Statistics Canada (StatsCan) says corporations earned $74 billion in operating profits in the first quarter, down 1.2% from the previous quarter.

It says this comes after a 1.4% increase in the fourth quarter of 2012.

Operating profits decreased in 14 of 22 industries, led by insurance carriers and related activities, whose profits were down 16% to $3.9 billion.

Securities, commodity contracts and other financial investments fell 4.2% to $5.5 billion.

In the non-financial sector, first quarter operating profits rose 0.3% to $53.6 billion, following a 0.9% increase in the previous quarter.

Profits for manufacturing industries declined 1.0% to $12.1 billion and wholesale trade profits fell 3.0% to $5.7 billion.

©The Canadian Press