KiwiRail 1H earnings fall 6% on lower coal, logs, dairy volumes; affirms guidance

KiwiRail 1H earnings fall 6% on lower coal, logs, dairy volumes; affirms guidance
By Paul McBeth March 2 (BusinessDesk) - KiwiRail, the unprofitable government-owned rail operator, reported a 6 percent drop in first-half operating earnings on reduced freight volumes of coal, logs and dairy, and said it would still meet guidance for annual earnings to gain by almost a quarter. Earnings before interest, tax, depreciation and amortisation fell to $35.1 million in the six months ended Dec. 31, from $37.3 million a year earlier, the Wellington-based company said in a statement. Sales rose 0.3 percent to $366.6 million, whil...