America's CSX rail profits up 30pc to US$395 million

AMERICA's CSX railway has posted a record-breaking 30 per cent year-on-year first quarter net profit increase to US$395 million, drawn on revenues of $2.8 billion, up 13 per cent on 2010 first quarter sales.


Intermodal scored highest, rising 11 per cent to 553,000 units, with revenue from that segment rising four per cent to $332 million.


The company said strength of intermodal "was primarily driven by increased customer demand, the improving US economy and new international gains as a result of the intermodal portfolio of service and network offerings."


All product volumes were up but agricultural produce, which fell four per cent drop, reported American Shipper, which added that automotive shipments increased 20 per cent.
(Source:http://www.schednet.com)