Ports and rail operator Asciano Group has reported a net loss for 2009/10 due to impairment charges but says the outlook for the current year is positive, reported Australian Associated Press.
Asciano booked a net loss of US$861.23 million for the 12 months to June 30, compared with a loss of $215.41 million in the prior corresponding period.
The results were affected by pre-tax impairment charges of $1.06 billion, announced in May.
Earnings before interest and tax (EBIT), and before significant items, rose 15 per cent to $387.91 million, Asciano said in its full year accounts, thanks to a strong contribution from its coal haulage operations and a focus on cost management and productivity.
Asciano said the company "expected earnings growth in the 2011 financial and are comfortable with market EBIT consensus at this point in time".
"The outlook for the year ahead remains positive," the company said.
"We expect continued growth from the resources and bulk commodity sectors but remain cautious on the economic recovery in industrial and consumer markets."
Asciano said it would restructure its business, moving from four divisions to three -- Patrick Ports, Pacific National Rail, and Pacific National Coal.
Asciano booked a net loss of US$861.23 million for the 12 months to June 30, compared with a loss of $215.41 million in the prior corresponding period.
The results were affected by pre-tax impairment charges of $1.06 billion, announced in May.
Earnings before interest and tax (EBIT), and before significant items, rose 15 per cent to $387.91 million, Asciano said in its full year accounts, thanks to a strong contribution from its coal haulage operations and a focus on cost management and productivity.
Asciano said the company "expected earnings growth in the 2011 financial and are comfortable with market EBIT consensus at this point in time".
"The outlook for the year ahead remains positive," the company said.
"We expect continued growth from the resources and bulk commodity sectors but remain cautious on the economic recovery in industrial and consumer markets."
Asciano said it would restructure its business, moving from four divisions to three -- Patrick Ports, Pacific National Rail, and Pacific National Coal.