Business better, but too early to call recovery: Asciano

Business better, but too early to call recovery: Asciano

Transport infrastructure investment group Asciano (ASX:AIO) said it had benefited from stronger economic conditions in the September quarter, but warned it had yet to see signs of a sustained economic recovery.

CEO Mark Rowsthorn said the Australian economy had remained “generally buoyant” during the quarter, but said the company remained unconvinced that the growth trend would continue into the rest of the financial year.

During the quarter, coal haulage increased by 25% year-on-year to 4,21 billion tonnes. But volumes at the company’s intermodal freight and port businesses declined by a respective 15.6% and 7%.

Rowsthorn said these volumes were generally in line with its expectations.

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Tags economic crisisascianoTransport

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