The company also raised its quarterly dividend to 16 Canadian cents from 15 Canadian cents.
The net income rose to C$20.8 million ($20.9 million), or C$1.30 per share, from C$17.3 million, or C$1.08 per share, a year earlier.
Revenue increased 13 percent to C$203.9 million. Sales of railway ties -- used as a base for railway tracks -- were up nearly 26 percent at C$120.1 million. (Reuters)