Re: Profit for Tasrail first in 127 years

["M.B. and C.M.McDonald" <michael.and.colleen.mcdonald@xtra.co.nz>]

TranzRail, also part-owned by WCR, is still making a profit, although it has
been reduced (blame the "Asian economic problem"?).

It is about to take delivery of a new ferry and is still continuing with
plans to shift the Cook Strait ferry terminals.  Both these projects have
high capital costs.

The current downturn has seen the company switch from importing locos to
exporting.

The relationship with private operators is another matter !!

David & Jan Winter wrote in message <3650218f.0@news.highway1.com.au>...
>Take it easy, guys.
>
>An "operating profit" is an accountant's device. The real situation must be
>heavily masked by the effective capital loss carried by various governments
>along the way, which distorts calculation of depreciation expense. Let's
get
>excited when they deliver ongoing dividends to shareholders in 2002.


Cheers
Michael McDonald