TORONTO, Nov. 25 (Xinhua) -- Following three consecutive quarterly declines, corporations in Canada earned 54.1 billion Canadian dollars (51 U.S. dollars) in operating profits in the third quarter, up 7.9 percent from the previous quarter, according to Statistics Canada on Wednesday.

    Overall gains were widespread, 18 of 22 industries reported higher profits in the third quarter, said Statistics Canada.

    Profits for oil and gas, and petroleum and coal increased 20.4 percent, their first increase in four quarters. Much of this gain came from rising oil prices. Manufacturers reported a 28.6 percent increase, while transportation and warehousing managed a rise of 14.8 percent.

    The 0.3 percent increase in profits for the financial industries this quarter follows three straight quarterly declines in profits. Property and casualty insurance carriers posted significant declines as bad weather resulted in higher claims. Offsetting some of these declines were gains in banking and other depository credit intermediaries.

    The Statistics Canada Quarterly financial statistics for enterprises are based on a sample survey and represent the activities of all corporations in Canada, except those that are government controlled or non-profit.

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