Rail freight company, Aurizon Holdings Ltd
(ASX:AZJ), has announced that its statutory net profit fell by 88% in FY16. It fell from $604 million down to $72 million, compared to the same period last year.
The company also reported a 65% fall in its statutory earnings before interest and tax in FY16 – from $970 million to $343 million.
Aurizon says it has been a “challenging year for the Company”, but remains optimistic about its FY17 outlook. The company is expecting underlying earnings before interest and tax of around $900 million to $950 million.
In addition, the company has declared a final dividend of 13.3 cents per share, 70% franked.
