Corporate profits hit a record high $50.7 billion in the second quarter of this year, Statistics Canada said today. That’s an increase of 4.1% from the first quarter.

“The second-quarter gains were centred in the non-financial sector, where operating profits jumped 6.9% to $38.3 billion,” StatsCan said. Thirteen of 17 non-financial industries boosted profits, led by manufacturing, oil and gas extraction and retail trade, preliminary figures indicate.

“Operating profits have now risen for four consecutive quarters, bolstered by rising metal, energy and forestry product prices and a thriving manufacturing sector,” Statistics Canada said.

“Financial industries lost ground, as lower profits by depository credit intermediaries -mainly chartered banks – trimmed overall operating profits by 3.6% to $12.4 billion.” That ended six consecutive quarters of growth.

However, “despite the slide, profits of the financial industries remained at their second highest level ever,” the agency said.

Chartered banks saw profits slip to $4.9 billion from a high of $5.2 billion in the first quarter.

Oil and gas extraction firm operating profits jumped 10.9% to $5.6 billion.

Mining companies, excluding oil and gas, earned 11.8% more.

Manufacturers’ operating profits rose to a new high of $12.4 billion, up 11.3% from the first quarter and 42.9% above year-earlier levels.

Wood and paper manufacturers saw profits of $1.4 billion, up 25.5% from the first quarter.

Primary metal producers, up 33.4%.

Overall retail profits increased 11.2%.

-etail furniture and home furnishing stores reported a 28.8% jump.

Motor vehicle and parts saw an 18.6% rise.

Clothing, department and general merchandise stores reported an *% gain.

Retail food and beverage profits jumped 14.6%.