Coal and dairy revenues hit KiwiRail first-half

Pattrick Smellie
Mon, 29 Feb 2016

By Pattrick Smellie Feb. 29 (BusinessDesk) - Falling revenue from the rail network and one-off restructuring costs pushed state-owned KiwiRail to a net loss for the six months to Dec. 31 of $16.2 million, compared with a $6.8 million loss for the same period last year. Revenue for the half fell 5.5 percent to $364.4 million "due to challenging market and weather conditions for two of our bulk freight commodities – coal and milk," said chief executive Peter Reidy in a statement. "This was partially offset by strong passenger growth in Inte...

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