KiwiRail operating earnings improve, despite lower freight revenues

Fri, 28 Aug 2015

By Pattrick Smellie Aug. 28 (BusinessDesk) - KiwiRail had a much better 12 months to June 30 than a year earlier, improving its earnings before interest, tax,depreciation and asset impairments to $91 million, 17 percent ahead of the previous financial year, which was marred by several one-off costs. The result was achieved on total revenues of $721 million, down 3 percent for the year, with freight revenues falling 6 percent to $434 million in an environment where coal deliveries by Solid Energy fell, offset somewhat by higher levels of...

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