Aurizon flags $200m impairment

Group to trim locomotive, wagon fleet; warns of H1 expense on asset disposals.

Aurizon Holdings (AZJ) has announced a first-half impairment of almost $200 million as it reduces its locomotive and wagon fleet and terminates the Surat Basin Rail Joint Venture.

In a statement to the Australian Securities Exchange, Aurizon said it expects an asset impairment of $130 million to $150 million pre-tax, recognised as an expense in its first-half 2014 financial statements, as it reduces the fleet.

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