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Kansas City Southern profit up 16pc on 9pc increase in revenue
THE Kansas City Southern Railway posted a 16.5 per cent year-on-year third quarter net profit increase to US$138 million, drawn on revenues of $677.5 million, up nine per cent.
The higher-than-expected performance was attributed to more revenue from grain, up 21 per cent, and auto shipments, up 28 per cent.
Kansas City Southern operates a unique, north-south route in central United States and derives half its revenue from cross-border business with Mexico, Reuters noted.
Exports from the United States to Mexico rose seven per cent in the first eight months of the year while imports increased four per cent.
The railway moved 13 per cent more consumer goods while intermodal shipments increased 11 per cent.
But energy shipment revenue fell four per cent, hurt by a decline in utility coal and frac sand shipments.
The higher-than-expected performance was attributed to more revenue from grain, up 21 per cent, and auto shipments, up 28 per cent.
Kansas City Southern operates a unique, north-south route in central United States and derives half its revenue from cross-border business with Mexico, Reuters noted.
Exports from the United States to Mexico rose seven per cent in the first eight months of the year while imports increased four per cent.
The railway moved 13 per cent more consumer goods while intermodal shipments increased 11 per cent.
But energy shipment revenue fell four per cent, hurt by a decline in utility coal and frac sand shipments.
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