Aurizon lifts FY profit

Group confident of long-term growth, though at more moderate levels.

Aurizon (AZJ) remains confident in long-term growth in the resources sector, though at more moderate levels, after posting a lift in full-year profit.

In the year to June 30, Aurizon's underlying earnings before interest and tax (EBIT) was $754 million, a 29% increase on the $584 million in 2012.

Full-year underlying net profit came in at $487 million, higher than what analysts were expecting at around $475.1 million.

Aurizon's statutory net profit after tax of $447 million, a 1% lift on $441 million for the previous year.

In the same period revenue was $3.77 billion, a 7 per% on the $3.54 billion recorded in 2012.

The group will pay a partially-franked final dividend of 8.2 cents on September 23.

Australia's largest freight operator said higher earnings were offset by redundancy costs.

The company reduced the size of its workforce by 11% during the year, cutting the number of total staff from 8,969 to 7,969.

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