KiwiRail 1Q revenue running ahead of budget, still focused on containing costs

Thu, 25 Oct 2012

Oct. 26 (BusinessDesk) - KiwiRail, which runs the nation's railway network, is tracking ahead of expectations after the first three months of the financial year, but is still conscious of the need to keep a lid on costs. The state-owned enterprise's group revenue was ahead of budget in the first-quarter on increases in forestry, import/export and domestic freight volumes, chief executive Jim Quinn told a public meeting in Wellington. The rail operator had also reported increases in freight on the interisland ferries, and its passenger servic...

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