KiwiRail releases Statement of Corporate Intent

13 October 2015 12:12PM

KiwiRail’s latest Statement of Corporate Intent shows the company beginning to reap the benefits of its programme of improvement, chief executive Peter Reidy says.

The 2016-18 Statement of  Corporate Intent says that the company’s focus for the next two years will be on delivering financial and operational results, and reshaping the business to ensure that KiwiRail can meet its customers’ needs in the most efficient and effective way.

“Our move to ‘One KiwiRail’, with a back-to-basics model and standardising our assets is well underway. We are becoming more ‘customer-centric’, working on the premise that we move freight and people rather than trains and ships. That is helping us, like other good businesses, keep the needs of our customers paramount,” Mr Reidy says.

 “We also intend to work more collaboratively with the NZ Transport Agency and Ministry of Transport to ensure that KiwiRail is an integral part of the solution to New Zealand’s transport needs.”

 The Statement of Corporate Intent sets out key performance objectives across a range of measures for the next three years. These measures fit within KiwiRail’s five strategic objectives of “sustaining a Zero Harm environment”, “engaging customers and stakeholders”, “delivering operational performance”, “empowering our people” and “meeting our financial targets”.

“We are already seeing progress in some of those areas with the Total Recordable Injury Frequency Rate having reduced by 50 per cent over the previous financial year, and the Lost Time Injury Frequency Rate reducing by 36 per cent.

“We were pleased with the $91m net operating surplus in FY2015, which was a 17 per cent improvement over the previous year.  However, trading conditions are challenging so we will be tightly focusing on costs and performance to help us achieve our forecasts in the Statement of Corporate Intent.”

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