News: QR posts profit

.

QR National Limited (ASX:QRN) has reported an annual net profit for the year to June 30 of $349.5 million, compared with a loss of $36.8 million in the previous corresponding period.



The company said revenue across the group rose 11 per cent to $3.29 billion.



Managing director Lance Hockridge said the floods in Queensland contributed to a 37 million tonne reduction in coal haulage volumes, compared with what was expected in the company's offer document when it was floated on the stock exchange.



He said QR National expects to spend approximately $1.6 billion on capital projects in financial year 2012 to support the anticipated growth in its key markets.



QR will pay a final dividend of 3.7 cents per share, unfranked.