Freight Derails Aurizon Profit

Rail freight operator Aurizon is selling its troubled intermodal business, cutting another 250 jobs, revealed the financial cost of the impact from Cyclone Debbie and has slashed its final dividend after reporting a bottom line loss of $188 million. But it will run a multi-million dollar buyback this financial year to provide support to the share price.

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Aurizon Confirms More Cuts

The other shoe dropped at rail group, Aurizon late yesterday – 15 days ago it revealed a restructure and slimming of top management jobs – it revealed another write off of its abortive WA iron ore play, more job cuts among employees, and said 2015-16 results would be a bit better than expected.

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Aurizon’s Hedge Fund Admirer

News that one of the world’s leading hedge fund managers had identified Aurizon Ltd (AZJ), the old Queensland Rail business, as one of his best investment ideas, sent the shares of the rail giant up 3.6% yesterday to $4.55, within sight of its all time high of $4.57.

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