Coal a winner for Asciano

ASCIANO’S coal business continued to prop the company up during the March quarter.
Coal a winner for Asciano Coal a winner for Asciano Coal a winner for Asciano Coal a winner for Asciano Coal a winner for Asciano

Courtesy Gunnedah Shire.

Angie Tomlinson

For the nine months to March 31, Asciano’s Pacific National Coal subsidiary lifted coal transported by 10% to 10,208 net tonne kilometres.


Overall coal volumes continued to improve, attributed to continued customer demand and additional rolling stock in the Hunter Valley.


The coal division achieved record monthly volumes in January, but February and March levels were affected by track maintenance shutdowns and bad weather.


Asciano CEO Mark Rowsthorn said the company’s bulk operations continued to perform extremely well.


“We expect the current robust operating environment for our coal and grain rail haulage businesses, in particular, to continue for the balance of the financial year and into 2009-10.”


The company expects its 2008-09 EBITDA to surpass 2007-08 levels.


Asciano said it was continuing to evaluate proposals to buy some of its assets.


The company said it had received a range of proposals from a number of parties, covering indicative offers for different assets as well as proposals that could result in a change of control or recapitalisation of the group.


The company said it would announce its shortlist by the end of June.


Asciano was trading steady this morning at $A1.54.

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