Aurizon investors get $150m buyback after net profit jump

Rail haulage group Aurizon will buy back up to $150 million of shares after income from coal haulage helped lift annual net profit by 25 per cent and offset losses from moving consumer goods.

Aurizon chief executive Andrew Harding said the containerized freight market was “softer than industry would expect” due to declines in consumer spending caused by inflation and higher borrowing costs.