The Guelph Junction Railway saw its 2015 profit for the city increase by $435,000 over 2014.
The railroad said that its net income was $646,000 compared to $206,000 in 2014.
"Revenue was the main driver of the higher net income, exceeding budget substantially by $422,000," says the railroad's annual report that heads to Guelph City Council at the end of the month.
Higher car volumes, as well as some positive synergies realized from improved partnering with Ontario Southland Railway both contributed to these revenue gains," the report says.
The additional income was reinvested back into the company, primarily in the reconstruction of the Eramosa Bridge, which allows for heavier cars to cross.
The expectations for 2016 are looking to continue with freight revenues exceeding budget due to higher than anticipated car volumes. Although some project delays have resulted in reduced revenues so far, management is confident that these will be recouped in other operational areas during the year," the report says.
