News: Asciano maintains cautious outlook

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Asciano Group (ASX:AIO) says it hauled less coal in the September quarter than it expected and has become more cautious about the full year outlook.

In the three months to 30 September the ports and rail operator recorded a 26.9 per cent increase in volumes compared to the same time last year, driven by new tonnes hauled in Queensland.

However despite significant growth overall Asciano says coal haulage volumes didn't reach management's expectations.

CEO Mark Rowsthorn says Asciano's ability to achieve targets are largely dependent on supply chain constraints in New South Wales and the level of weather related infrastructure and coal production issues in Queensland, issues largely outside of Asciano's control.

The second quarter is expected to provide management with more clarity for its full year expectations.

In the 2010 financial year Asciano Group booked a $975.9 million net loss, attributing the result to impairment charges of $1.14 billion.