3 Sep 2010

Kiwirail operating profit falls

6:41 am on 3 September 2010

Kiwirail is expecting another tough year, after the state-owned rail operator's full-year operating profit fell 11% to nearly $74.5 million.

Rail freight sales grew 11% in the second half, helping offset a 12% decline in the first half of the year.

Kiwirail chief executive Jim Quinn says the market is still very tight.

However he says the company is gaining market share, and hopes to lift revenue by working closely with its main customers and providing the best service possible.

Mr Quinn says the Kiwirail will also work with ports and their customers to position rail as a good alternative for moving goods too and from the ports.