OTTAWA, Feb 27 (Reuters) - Canadian corporate operating profits surged by 5.8 percent in 2002 to their second highest level, led by retail and manufacturing companies, Statistics Canada said on Thursday.
Canadian corporations racked up C$156.3 billion ($104.9 billion) in operating profits, up from C$147.8 billion in 2001. Only 2000's record of C$173.0 billion was higher.
Profits from nonfinancial industries rose 9.6 percent while financial companies saw a 6.5 percent decline.
Operating profits in the large manufacturing sector jumped by 13.5 percent, retail by some 44 percent and transportation and warehousing by 55 percent. Oil and gas extraction companies saw their operating profits decline by 23.2 percent.
For the fourth quarter, operating profits rose by a seasonally adjusted 5.1 percent from the third, which was up only 1.0 percent from the second quarter. Profit gains were slower in the second half than the first half.
Figures for the fourth quarter and hence for the year as a whole were preliminary.
After tax-profit rose by 10.2 percent in 2002 to a preliminary C$86.1 billion from C$78.1 billion in 2001. Nonfinancial after-tax profit rose 9.9 percent and financial profit rose 11.2 percent.