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For additional information relating to this article, please contact:

Barbara Ruszel Economist
Tel: 902-424-1848Email:

February 22, 2018

Canadian corporations earned $98.6 billion in operating profits (seasonally adjusted) in the 4th quarter of 2017, decreasing 1.9 per cent compared to the previous quarter. Compared to Q4 2016, operating profits were down 0.7 per cent.

The non-financial sector operating profits (seasonally adjusted) were up 2.3 per cent to $66.0 billion in the 4th quarter with gains in 8 of the 17 non-financial industries. Profits were down slightly in retail trade (-0.2%) and wholesale trade (-1.3%). Manufacturing profits increased 6.6 per cent with most of the gains in the petroleum and coal products and primary metal subsectors on higher oil and base metal prices. Motor vehicle and parts manufacturing profits were down 14.4 per cent in part due to temporary shutdowns. Information and culture industry profits increased 5.7 per cent to $5.1 billion as wireless revenue increased as consumers switched to higher-rate plans.

Operating profits decreased 9.4 per cent in the financial industries. Depository credit intermediation profits increased 1.0 per cent while insurance carriers and related activities operating profits declined 46.6 per cent as a result of fair value adjustments to actuarial liabilities among life, health, and medical insurers.




For 2017, operating profits increased 14.1 per cent (+$47.4 billion). Within the non-financial industries, an increase of 16.4 per cent (+$35.9 billion) resulted from increases in 15 of 17 subsectors. The largest dollar increase came from oil and gas extraction reporting smaller operating losses in 2017 than 2016. Profits in manufacturing increased 22.5 per cent. Financial sector profits were up 9.9 per cent (+$11.5 billion).


Source: Quarterly financial statistics for enterprises; CANSIM 187-0002

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