Aurizon Holdings Limited
(ASX:AZJ) has lifted in annual net profit, revealed a management reshuffle and forecast sustained growth in the resources sector, albeit at more moderate levels.
Australia's biggest freight rail operator’s net profit grew 1 per cent to $447 million in the 2013 financial year, impacted by costs relating to its voluntary redundancy program.
Excluding one-off costs the company, formally known as QR National, improved its underlying profit by 16 per cent.
Aurizon’s latest management changes will see Ken Lewsey and Greg Robinson depart, Mike Carter head strategy and business development and Alex Kummant take charge of the company’s networks business by the end of this year.
A final dividend of 8.2 cents per share has been declared, representing an increase in payout ratio from 50 per cent to 65 per cent.
