Tag: AZJ

Rail group Aurizon (AZJ) shares rose strongly yesterday despite a weak outlook for the coming year so far as its key coal and iron ore haulage businesses are concerned.

Brisbane-based rail giant, Aurizon (AZJ) has named Tim Poole, a leading fund manager and former chairman of rival rail and transport group Asciano (AIO), as chairman-elect to succeed John Prescott when he steps down from the company on September 1. Prescott has been chair of the company since 2010.

Aurizon (AZJ) has lifted its half year profit thanks to cost-cutting efforts across its rail network and it is looking to another bout of cost cutting to offset the continuing slump in the coal mining and export industry.

Aurizon (AZJ) and Baosteel of China look like succeeding in their $1.4 billion joint bid for iron ore miner Aquila (AQA), despite yesterday’s shock news from Aurizon of further write downs, job losses and changes brought about the slide in the resource sector’s fortunes.

In a confusing interim report yesterday, Aurizon (AZJ), the Queensland based rail freight operator, managed to report several different profits – all of which were sort of accurate.

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.