Canadian business, except energy, had profitable Q4: Statistics Canada

Most of Canada’s businesses reported a profitable fourth quarter in 2012, with total corporate operating profits of $72.5 billion, up 1.4 per cent from the previous quarter, Statistics Canada reported today. This followed a 3.9 per cent increase in the third quarter. However, year over year, Q4 profits were down 1.2 per cent compared to 2011.

Petroleum and coal products manufacturers, as well as oil and gas extraction and support activities, saw declines in operating profits in the fourth quarter of 2012, Statistics Canada reports.
Petroleum and coal products manufacturers, as well as oil and gas extraction and support activities, saw declines in operating profits in the fourth quarter of 2012, Statistics Canada reports.

Operating profits increased  in 13 of the 22 industries that Statistics Canada tracks.

The financial sector saw a slight decline in profit (0.4 per cent) to $19.4 billion.

The largest overall increase was seen among insurance carriers and related businesses: profits there increased by 29.7 per cent.

In the non-financial sector, there was general growth, though the energy and mining sectors experienced declines. Oil and gas extraction and support activities profits fell 22.7 per cent to $1.1 billion, while mining profits fell 18.0 per cent to $1.7 billion. Petroleum and coal products manufacturers also saw falling profits with a drop of 26.5 per cent to $3.2 billion in the fourth quarter.

Construction profits rose 12.7 per cent to $4.0 billion, but manufacturing overall remained unchanged, standing at $12.7 billion.

Within the manufacturing sector, however, 10 of the 13 manufacturing industries showed gains, led by the motor vehicle and parts, where profits were up 33.2 per cent to $1.2 billion on strong year-end sales. Profits had declined 12.1 per cent in the third quarter.

Profits for chemical, plastics and rubber products manufacturers rebounded, rising 14.4 per cent to $2.0 billion, following a 17.0 per cent decline in the third quarter.

Primary metal manufacturing profits increased 44.3 per cent to $620 million.

In the information and cultural industries, profits rose 7.4 per cent to $5.9 billion. The increase was concentrated in the telecommunications industry, where profits rose 10.1 per cent to $4.4 billion.

Transportation and warehousing also saw a rise of 10.9 per cent to $3.0 billion.

Retailers’ profits increased 6.1 per cent to $4.1 billion, largely thanks to motor vehicle and parts, whose dealers accounted for just under half of the increase.

Did you miss this?

Other Popular Stories

  • Zinc-air battery shows great promise in search for energy storage
  • TransCanada confident Energy East pipeline will be built
  • Gas producers argue for use of LNG to power northern communities
  • New catalyst could help bring hydrogen fuel economy closer
  • Green building booming but Canadian companies lag in R&D
  • Canada's manufacturing sales rose in 2016, led by cars, food
  • Canada will reduce oil and gas industry emissions
  • Southwest Requested More Time for Inspections, Second Engine Explosion Results in Tragedy
  • Lower Model 3 prices can't prevent Tesla's slide by 3% after deliveries fail to impress; Tesla opens orders to Europe and China
  • Wholesale trade saw healthy gains in 2014: Statistics Canada
  • Russian leasing company orders 42 CSeries jets from Bombardier
  • Héroux-Devtek subsidiary to provide landing gear for Boeing 777
  • Canada's prosperity at risk from disruption, lack of skilled workforce: reports
  • Manufacturing sales up in September but shadow of Trump looms over Canada
  • Two auto parts plants adding jobs in southwestern Ontario
  • Five Seasons Ventures Invests in European Food and AgriTech
  • Bombardier CS100 certified by Transport Canada
  • Danger Doc Robinson: researchers at RMIT University find vehicle vibrations may induce sleep in drivers
  • Deep Roads — researchers propose taking road expansion underground to reduce congestion and pollution
  • NASA Discovers Eighth Planet Circling Distant Star
Scroll to Top