More Impairments on the Aurizon
Aurizon flagged that it will recognise impairments and one-offs of AUD 321 million pre-tax in its results for the six months to December 2016, following on from AUD 528 million in fiscal 2016. Around AUD 85 million of the new charges relate to previously announced transformation and redundancy costs, with the balance mainly relating to impairments of the underperforming freight business. The impairments don't come as a surprise given issues in the freight business have been highlighted previousl...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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