Aurizon Holdings Limited
(ASX:AZJ) has affirmed its commitment to significant operational reforms after reporting a full year profit drop.
The rail freight operator’s annual net profit dropped 43 per cent to $253 million in the 2014 financial year.
The result was impacted by almost $390 million in write downs including costs associated with a voluntary redundancy program.
On an underlying basis Aurizon’s net profit rose 7 per cent, revenue grew 2 per cent and EBIT gained 13 per cent over the year.
Managing Director and CEO Lance Hockridge says the solid result underscores the momentum the company is achieving with its transformation program.
An unfranked final dividend of 8.5 cents per share has been declared, taking the full year payout to 16.5 cents.
