18 November 2004 CP Rail Forecasts Higher Profit in 2005 Canadian Pacific Railway Ltd., the country's second-largest railroad, expects an increase in 2005 profit to about $2.60 a share as revenue and the prices it charges rise, company executives said.   Chief Financial Officer Michael Waites provided the profit forecast on a conference call yesterday with analysts.   The Calgary-based company last month said earnings this year are expected to be as much as $2.27 a share. CPR forecast a revenue increase for next year of between 6 percent and 8 percent, with growth of at least 5 percent in each cargo category, including coal, forest products such as lumber, and goods carried by a rail-truck combination.   Chief operating officer Fred Green estimated that the railroad will raise prices 3 percent, excluding extra fees for fuel.   Canadian Pacific next year was expected to earn $2.68 a share, the average estimate in a Thomson Financial survey of analysts. Thomson Financial wasn't immediately available to say whether the estimate was on the same basis as the company's forecast.   CP (TSX) rose $1 to $36.74.