News: Asciano reports strong Q1 performance

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Asciano Limited (ASX:AIO) says it’s had strong results in the first quarter of the 2015 financial year despite some on-going volume volatility. 
 

Coal volumes rose an average of 6 per cent offsetting lower grain volumes. A recovery in grain volumes is expected following a reasonable growing season and coal volumes should remain strong outside of external factors such as weather. 
 

Vehicle storage dropped 26 per cent reflecting an expected run down in vehicle inventory while stevedoring activity posted a 4 per cent gain despite the winding down of a contract. 
 

Managing director John Mullen says while coal haulage continues a high levels other business is a little patchy. The company is focussed on business improvement programs and maintains its 5 year target or 10-15 per cent growth.  
 

Asciano reported a net profit of $257 million for the full year ended 30 June 2014.