CORRECT: KiwiRail's net loss widens and operating surplus falls on earthquake impact

Fri, 25 Aug 2017

(Fixes CEO name in 6th paragraph, headquarters in 2nd paragraph) By Rebecca Howard Aug. 25 (BusinessDesk) - KiwiRail, the state-owned rail and freight operator, said its full year net loss widened while the operating surplus sank by almost a third due to the impact of the Kaikoura earthquake in November. The Auckland-based company reported a net loss of $197.3 million in the year to June 30 versus a net loss of $194 million in the prior year. The loss reflected an impairment charge of $295.8 million on KiwiRail’s rail assets. As the r...

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