Aurizon in box seat for One Rail
The nation’s largest freight company, Aurizon, may have negotiated itself into an exclusive position to buy the $2bn One Rail Australia business.
The nation’s largest freight company, Aurizon, may have negotiated itself into an exclusive position to buy the $2bn One Rail Australia business.
The nation’s largest freight rail company, Aurizon, has had a busy year behind the scenes examining possible acquisition opportunities.
Market participants are wondering whether plans are brewing for a $13bn-plus tie-up between logistics firms Qube and Aurizon.
Earnings from Aurizon’s non-coal bulk handling business lifted almost 25pc last financial year as the company looks to diversify beyond its coal haulage business.
Australian coal exports could halve in the next 20 years, rail haulage group Aurizon says.
RAIL giant Aurizon’s profit has taken a hit from China’s ban on Australian coal with the company forecasting the chilly relations could remain for an extended period.
Analysts downplay any trouble brewing with China on coal, but wonder more about prices.
Pay levels at some of the nation’s biggest companies are falling as corporate earnings succumb to the pandemic.
Aurizon lifted annual profit and will pursue a $300m share buyback, but expects a hefty fall in 2021 earnings.
Queensland rail company Aurizon will reward investors by paying out a final dividend after reporting a profit boost for the 2020 financial year.
Original URL: https://www.theaustralian.com.au/topics/aurizon/page/3