Drop in earnings for Kiwirail

Newstalk ZB staff
Newstalk ZB

A frustrating financial year for Kiwirail has seen a 28 percent drop in its earnings.

The company has just announced its 2014 annual result.

Chairman John Spencer says it's been a challenging year, highlighted by the breakdown of the Aratere ferry, and the discovery of asbestos dust in freight locomotion caused frustration after starting the year well.

Overall, the company has posted a $248 million loss.