Australian Stock News – Asciano Group (AIO) 11 May 2010
Australian Stock Asciano Group (AIO) is a leading transport infrastructure company, operating infrastructure assets, ports and rails across Australia.
AIO has advised that it will book around $1.1 billion in non-cash impairment charges across its businesses in 2H10.
The divisions that would be affected by the write-down include AIO’s Patrick and container ports businesses, the general stevedoring division, and the automotive business.
AIO maintained that despite the impairment charge, operating earnings for FY10 are still expected to be at the upper end of between $675 and $700 million.
AIO ASX share price performed strongly since mid-February 2009, pulling back more recently to the $1.60 level.