Queensland Rail (ASX:QRN) is Australia’s largest rail freight operator and the world’s largest rail transporter of coal from mine to port for export markets.
QRN is a recent addition to the Australian share market, having floated in November last year.
Today QRN reported a FY11 net profit of $349.5 million, rebounding from a $36.8 million loss a year earlier.
The Queensland flooding earlier this year heavily impacted coal haulage volumes, with many of QRN’s clients yet to experience a return to full production.
QRN was able to generate profit growth primarily due to cost management and operational efficiencies.
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