Asciano Limited (ASX:AIO) has reported a 24 per cent slide in full year net profit while flagging solid growth in earnings for the year ahead. The rail and port operator has blamed the softer net profit figure of $254.4 million on depreciation costs of capital spending and acquisitions.
The company’s share price was up 2.33 per cent yesterday with investors encouraged by a 5 per cent increase in underlying earnings which came in above expectations.
CEO John Mullen says the earnings gains were offset by a soft domestic economy, the drought in North Eastern Australia and lower volume activity on rail and port projects.
A final dividend of $0.085 fully franked has been declared taking the full year fully franked dividend to $0.1425.
