News: Asciano on track for FY earnings lift

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Asciano Limited (ASX:AIO) expects second half revenue and earnings to be higher than last year after significantly boosting its net profit in the six months to December.



The ports and rail operator lifted its first half net profit by 74.5 per cent to $199 million.



The profit growth was driven by volume growth in Asciano’s Pacific National Coal haulage business on the back of new contracts.



Volume growth was also seen in the company’s ports business amid a record number of car imports and rising activity in the resources sector.



CEO John Mullen says the result is very pleasing in light of very soft first quarter market conditions across most of Asciano’s businesses.



The company declared a fully franked interim dividend of 5.35 cents per share.