|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.9500 - 3.9500|
|52 Week Range||2.8700 - 3.9500|
|Beta (3Y Monthly)||0.20|
|PE Ratio (TTM)||22.32|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Australian bulk rail freight operator Aurizon (ASX: AZJ), which owns one of the world's largest coal rail networks, reported a 15 percent decline in full year profits. Statutory earnings before interest and taxation (EBIT) were down by 14 percent and revenues were down 7 percent. Statutory EBIT fell from A$966 million to A$829 million.
Aurizon's shares rose as much as 3.8% in early trade to a record high of A$5.97 on the slightly higher than expected outlook for this year and after announcing it would buy back up to A$300 million ($204 million) of its shares. Australia's top coal hauler resolved a dispute with its major mining customers in May over how much it can charge for rail access with a new 10-year agreement, and won contract extensions and increased volumes from key customer Glencore. Aurizon said it expects full year 2020 earnings before interest and tax (EBIT) between A$880 million and A$930 million ($597 million to $631 million), up from A$829 million last year.
ASX-listed Aurizon recorded top line revenues of AU$1.46 billion (U.S. $1.03 billion) for the six months to December 2018. Aurizon's revenue numbers are down by 7 percent on the AU$1.57 billion recorded in the prior corresponding period for the six months ending December 2017. Industrial action and weather also affected revenues, the rail operator said.
Rail operator Aurizon has completed the sale of its Queensland Intermodal Business to privately owned Australian logistics company Linfox. Details of the deal have not been released although that may change in the near future as Australian Stock Exchange-listed Aurizon is due to release its half-year results next week. Aurizon has not disclosed the price so far and Linfox specifically declined to do so, telling FreightWaves that Linfox is a private company and therefore does not have to reveal details of its finances.
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