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Article: 'Significant' interest in Tranz Scenic rail sale
- Article from:
- The Press
- Article date:
- May 1, 2001
CopyrightCopyright 2001 The Press. Provided by ProQuest LLC. (Hide copyright information)
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Tranz Rail expects to announce soon the sale of its Tranz Scenic
long-distance passenger operation.
Chief financial officer Mark Bloomer said yesterday that there
had been a "significant amount" of interest in the business -- which
in the South Island operates the Tranz Alpine, the Southerner, and
the Tranz Coastal services -- with only three potential buyers left
on the short-list. A deal was expected within two or three weeks.
The company also announced yesterday a softer third-quarter
profit as increasing costs outstripped higher revenue.
The after-tax profit, for the March quarter, was $13.1 million,
down 25 per cent from $17.5m in the same period a year earlier.
Revenue rose 8.6% to ...