Good First Half for Aurizon, but Full-Year Guidance Unchanged
Aurizon’s first-half fiscal 2017 underlying EBIT jumped 21% to AUD 488 million driven by ongoing cost-out initiatives and some one-off benefits in the below rail network business. Full-year EBIT guidance was unchanged at AUD 900-950 million, implying a weaker second half. Underlying net profit after tax increased 18% to AUD 279 million, and dividends increased 20% to AUD 13.6 cents per share. We're comfortable maintaining our forecasts towards the top of guidance and make only minor changes to o...Aurizon Holdings is engaged in integrated heavy haul freight railway operation; rail transportation of coal from mine to port for export markets; bulk, general and containerised freight businesses; and rail services activities. Co. has three segments: Network, which is engaged in the provision of access to, and operation and management of, the Central Queensland Coal Network; Commercial & Marketing, which is engaged in the commercial negotiation of sales contracts and customer relationship management; as well as Operations, which is engaged in the national delivery of various coal, iron ore, bulk and intermodal haulage services, and in the maintenance of rollingstock fleet assets.
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