Aurizon welcomes positive vote on Queensland Train Crew and Transport Operations Enterprise Agreement
Update on Queensland Enterprise Agreements
Aurizon renews coal haulage contract for Dawson and Callide Mines with Anglo American and Mitsui
Aurizon uses drones to inspect rail assets
Aurizon welcomes Fair Work Commission decision to terminate Enterprise Agreements
Aurizon welcomes SIMTA and MIC Moorebank agreement
Aurizon reaches in principle agreement with unions on train crew EA
Aurizon welcomes positive vote on Queensland Construction and Maintenance Enterprise Agreement
Aurizon sets up Perth hub
Aurizon chief Lance Hockridge not done shaking up rail giant
In December 2013, Aurizon announced that it had undertaken a review resulting in impairments relating to a reduction in the rollingstock fleet and a review of strategic projects.
Since that time, there has been sustained work in implementing further changes under the Integrated Operating Plan (IOP) that is achieving on-going reductions in costs, assets and labour requirements. All key metrics relating to wagon and locomotive utilisation, and labour cost per net tonne kilometre are trending positively, and record tonnages are being transported across the Central Queensland Coal Network.
Building on this work, the Company has undertaken a further review of its asset portfolio and, as necessary is making further asset impairments and additional provisions in respect of voluntary redundancy (VR) costs totalling in the range of $130m-$160m (pre-tax and subject to audit). As a result, impairments and provisions for FY2014 will total $352m-$382m (pre-tax) after including the $222m announced in December 2013.
The impairments and provisions made in 2HFY14 also reflect the Companys best assessment of current and short-term outlook for the domestic and global coal markets, the deferral or cancellations of capital projects by the resources sector, plus a further review of strategic assets.
For the full ASX announcement, please visit the Aurizon website.
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.