Latest news with #AndrewHarding
Sky News AU
2 days ago
- Business
- Sky News AU
Aurizon confirms 200 job cuts in FY25 results
National railroad freight company Aurizon will slash 200 full time jobs in a dramatic cost-savings push. The cuts – first flagged in May – were confirmed on Monday morning by the company's executive Andrew Harding in Aurizon's full year results for the 2025 financial year. 'Our cost reduction program also reflects the discipline with which we are delivering our strategy,' he said. 'By reshaping Aurizon into a leaner, more agile organisation, we are positioning the business to compete effectively, capture growth opportunities as well as efficiently navigate market conditions.' The company had initially targeted $50m in savings, but Mr Harding said a further $10m had been identified. 'All $60m has been actioned and will flow through in its entirety in FY26 and includes a reduction of approximately 200 full-time equivalent roles,' he said. The company has 4,445 employees nationwide. The jobs cull comes as the company reported a sharp slump in profits over the year. Aurizon delivered $303m in net profits after tax, a 25 per cent fall from the previous year, even as revenues lifted 3 per cent to $3.95bn. The company's core business is hauling bulk commodities like coal, iron ore and minerals from mines to ports across a vast network of rail lines. It manages more than 5100km of track, including the 2670km Central Queensland Coal Network, linking more than 50 mines to five export terminals and the 2100km Tarcoola to Darwin railway linking South Australia to the country's northernmost port at Darwin. The company is trying to diversify its business, which is currently tilted towards coal, to capture more 'future-facing' commodities. Coal freight accounted for a nearly one third of the company's earnings across FY25. In June, Aurizon announced it had secured a 15-year contract with BHP to carry 1.3 million tonnes to and from the miner's copper operations at Olympic Dam, Prominent Hill and Carrapateena in South Australia. 'These contracts represent a major milestone in the delivery of Aurizon's bulk strategy,' Mr Harding said at the time. 'It demonstrates the growth opportunities available for our bulk business moving into new geographies and expanding markets for future-facing commodities such as copper, where the global demand is projected to increase significantly.' Aurizon expects the BHP deal to deliver revenues of $1.5bn in the first 10 years. It also suffered from the collapse of the Whyalla steelworks and is owed tens of millions in unpaid debts from the steelmaker. The Rail, Tram and Bus Union has been contacted for comment. Originally published as ASX-listed rail company Aurizon confirms 200 job cuts in cost-savings push
South China Morning Post
4 days ago
- Business
- South China Morning Post
Jockey Club enters long-term Xinjiang partnership in another positive mainland move
The Hong Kong Jockey Club has begun a long-term partnership with the Sports Bureau of the Xinjiang Uygur autonomous region in Urumqi with the goal of modernising the region's equine industry. The partnership was announced on Tuesday, with the aim of leveraging the resources of both the Jockey Club and the Bureau to promote the upgrading of Xinjiang's equine industry. Jockey Club chief executive Winfried Engelbrecht-Bresges visited the site alongside Executive Director Andrew Harding and members of the Club's expert team, meeting representatives of the government, university, industry and sports organisations. Xinjiang holds the largest horse population in China and is home to one of its most celebrated horse breeds, the Yili horse – a small breed native to Xinjiang. The region has a rich history of horse sports and is implementing strategic objectives set out in the National Equine Industry Development Plan and the Xinjiang Modern Equine Industry Development Plan to aid horse breeding, training, racing and horse culture tourism. The Jockey Club will support Xinjiang in celebrating its horse racing festivals, cultivating equine talent with an international perspective and improving veterinary and horse standards – among other objectives. Engelbrecht-Bresges said that the Jockey Club is committed to national development and will leverage the advantages of the 'one country, two systems' framework – along with the Club's extensive experience and global connections – to help promote China's horse culture internationally. He was also keen to highlight Conghua racecourse in Guangzhou, which will be instrumental in supporting the development of equine industry talent, clinical veterinary care, health standards, racing tourism and other cultural activities in Xinjiang. HK Racing News Get updates direct to your inbox Sign up Best Bets Racing News By registering you agree to our T&Cs & Privacy Policy Error: Please enter a valid email. The email address is already in use. Please login to subscribe. Error, please try again later. THANK YOU You are one the list. Engelbrecht-Bresges added that the Club is confident that Yili horses have the potential to become a global symbol of China's equine culture, while highlighting the Club's commitment to supporting the development of a robust equine industry value chain in Xinjiang and the nation through sports, cultural and tourism initiatives. Conghua opened in August 2018 and has become integral to Hong Kong racing and is currently used as a training centre for a large portion of the racing population. Racing is scheduled to begin at the venue in October 2026 in conjunction with Sha Tin and Happy Valley racecourses. An exhibition meeting at the course was held in March 2019. The Jockey Club began supporting the China Horse Industry Association in developing high-quality domestic horses last year, running 45 Yili horse assessment races held in Xinjiang.
AU Financial Review
10-08-2025
- Business
- AU Financial Review
Aurizon: Activists ready to rock rail group's future
Aurizon's Andrew Harding is facing a bigger reporting season than most chief executives. His $2 billion-plus bet on carrying more bulk freight – anything but coal – isn't firing. He's built, he's bought, he's backed in new management, and still Aurizon hasn't cracked it. Shareholders are antsy. Bulk was supposed to be his growth engine, the sizzle in a story that's otherwise focused on mature coal haulage and a monopoly coal rail network. But it hasn't worked and Aurizon's returned a miserly 2.3 per cent a year for shareholders in the past decade, including dividends, while the S&P/ASX 200 has returned 10.6 per cent.
AU Financial Review
10-08-2025
- Business
- AU Financial Review
Network or nuisance? Aurizon's ‘beyond coal' dream turns hot mess
Aurizon's Andrew Harding is facing a bigger reporting season than most chief executives. His $2 billion-plus bet on carrying more bulk freight – anything but coal – isn't firing. He's built, he's bought, he's backed in new management, and still Aurizon hasn't cracked it. Shareholders are antsy. Bulk was supposed to be his growth engine, the sizzle in a story that's otherwise focused on mature coal haulage and a monopoly coal rail network. But it hasn't worked and Aurizon's returned a miserly 2.3 per cent a year for shareholders in the past decade, including dividends, while the S&P/ASX 200 has returned 10.6 per cent.
Yahoo
01-08-2025
- Business
- Yahoo
ICAEW and CIMA welcome UK Government's small business plan
The Chartered Institute of Management Accountants (CIMA) and the Institute of Chartered Accountants in England and Wales (ICAEW) have expressed their support for the small business plan recently unveiled by the UK Government. The plan includes measures to fix fundamentals by legislating to end late payments, which cost the UK economy £11bn per year, and cutting regulatory costs by 25%. It also aims to unlock access to finance by expanding start-up loans to offer 69,000 new businesses finance and mentoring, boosting access to finance through the British Business Bank's Growth Guarantee Scheme and increasing the capacity of the ENABLE programme by £3bn to £5bn. Commenting on the plan, CIMA management accounting chief executive Andrew Harding said: 'The small business plan published today is a welcome addition to the wider UK Industrial Strategy, and incorporates numerous measures that CIMA has consistently advocated for on behalf of our members and the SMEs [small and medium-sized enterprises] they work for and assist. 'To unlock the full growth potential of the SME sector, it is vital that we establish clear and measurable indicators of success. The next phase must involve translating this strategy into actionable, multi-year business plans that are realistic, properly resourced and aligned with the UK's Industrial Strategy. These plans should be underpinned by metrics that capture the distinct characteristics and contributions of SMEs to the wider economy.' Additionally, the strategy will back the everyday economy through community funding for up to 350 places and business rate reforms including permanently lower business rates multipliers for high street retail, hospitality and leisure properties. The plan also focuses on future-proofing business skills through technology adoption and investing £1.2bn in skills and apprenticeships. Furthermore, it aims to open opportunities through a new Business Growth Service and by expanding UK Export Finance's capacity by £20bn to £80bn. ICAEW chief executive Alan Vallance stated: 'Small businesses are key to growth, and it is important that they can operate in the best environment to propel them into the business stars of the future, creating more growth, employment and prosperity for all parts of the UK. 'Chartered accountants are central to this story. As trusted business advisers, they provide expertise and acumen to allow small businesses to thrive and scale up, and often set up small businesses of their own. 'The publication of the Small Business Strategy is an important development to help small businesses realise their potential. With its ambition on entrepreneurship, business advice, late payments and export potential, as well as its close links to the UK Modern Industrial Strategy and Professional and Business Services Sector Plan, it is clear that chartered accountants will make a strong contribution to its success." "ICAEW and CIMA welcome UK Government's small business plan " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
