Asciano Limited
(ASX:AIO) has lowered its capital expenditure guidance for the next two years, amid tougher economic conditions.
In a presentation to a Sydney conference, Asicano announced it has revised down its capital expenditure guidance for fiscal 2013 from $700 to $800 million, to $575 - $625 million.
The group also lowered its capital expenditure guidance for fiscal 2014 from $800 to $900 million, to between $700 and $800 million.
Despite the downward revisions, Asciano expects to report higher revenue and earnings before income and tax (EBIT) for the second half of fiscal 2013.
Asciano generated a net profit of nearly $200 million for the first half of the current financial year.
