Canadian companies see 1.5% income rise in Q2

By Ovunc Kutlu

ISTANBUL (AA) – Canadian corporations reported an increase of 1.5%, or $2.4 billion, in net income before taxes (NIBT) in the second quarter of this year, according to official figures released on Friday.

The gain was driven by an increase in the non-financial sector with 3%, but partially offset by the financial sector with a decline of 1.8%, Statistics Canada said in a statement.

NIBT of primary metal and fabricated metal product, and machinery manufacturing industry, was up 10.2%, or $326 million.

This was followed by the transportation, postal and couriers services, and support activities for transportation industry, which rose $323 million.

Petroleum and coal product manufacturing industry also recorded increase of $307 million in the second quarter, due to higher price of energy and petroleum products.