KiwiRail operating earnings rise despite Kaikoura line outage

Tue, 20 Feb 2018

By Pattrick Smellie Feb. 20 (BusinessDesk) - Disruption to South Island rail services caused by the November 2016 Kaikoura earthquake masked a continuation in improved operating earnings from state-owned railway operator KiwiRail in the six months to Dec. 31. The company reported an operating surplus of $15 million for the period, which would have come in at $40 million once the one-off costs associated with the closure of the main trunk line between Picton and Christchurch were stripped out. While quake impacts would still be felt in the...

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