Aurizon has reported a 139 per cent increase in its statutory net profit after tax of $604 million in the year ending June 30, 2015.
Against a flat revenue of $3.8 billion, the freight operator recorded a 14 per cent increase in its underlying EBIT to $970 million and achieved an operating ratio of 74.3 per cent.
Aurizon managing director and CEO Lance Hockridge said: “Over the past two years we’ve delivered cumulative transformation benefits valued at more than a quarter of a billion dollars, as committed to the market.
“We’ve hauled 6 per cent more in above rail tonnages with 13 per cent less people and 17 per cent less locomotives, and delivered major growth projects on time and on budget.”
The Network business, which manages access to Aurizon infrastructure, delivered record tonnages of 226 million and a 17 per cent increase in its EBIT to $484 million.
In its outlook, Aurizon said it expects volumes to remain flat in 2016. It also confirmed that revenues would also be impacted in the period as a result of its Transport Services Contract with the Queensland Government, the expiry of the Queensland Rail passenger fleet maintenance contract and the disposal of CRT Industrial business.
