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Kansas City Southern profit falls 10.8pc, but revenue increases 40pc
THE Kansas City Southern (KCS) railway posted a 10.8 per cent net profit decline in the first quarter to US$94 million, drawn on revenues of $607.4 million, up 40 per cent.
All six of the railway's commodity hauling groups reported year-on-year revenue gains, led by a 40 per cent increase in agriculture and minerals.
Revenue from intermodal grew 10 per cent and automotive hauling seven per cent, while chemical and petroleum and industrial and consumer business grew three per cent. Energy revenue gained two per cent year on year.
"We are pleased with how our company performed during the first quarter," said KCS chief executive David Starling.
"The indication that our core business appears to be gaining strength provides us with positive momentum" toward achieving the company's 2014 goals, he said.
All six of the railway's commodity hauling groups reported year-on-year revenue gains, led by a 40 per cent increase in agriculture and minerals.
Revenue from intermodal grew 10 per cent and automotive hauling seven per cent, while chemical and petroleum and industrial and consumer business grew three per cent. Energy revenue gained two per cent year on year.
"We are pleased with how our company performed during the first quarter," said KCS chief executive David Starling.
"The indication that our core business appears to be gaining strength provides us with positive momentum" toward achieving the company's 2014 goals, he said.
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