Resources boom drives Bradken earnings

<p>Rollingstock manufacturer Bradken’s profit to June 2005 has surged on the back of the boom in Australian iron ore and coal industries.</p> <p>Bradken, which also has divisions in industrial manufacture, mining and mineral processing, recorded pre-tax earnings of $57.9m, an increase of 16% on the same period last year.</p> <p>Bradken’s managing director, Brian Hodges, said the result was a strong start for the company &#8211 it was publicly listed in August 2004 &#8211 that was "underpinned by positive market fundamentals in the Australian resources and freight rail industries".</p> <p>Sales in Bradken’s consumable parts business exceeded forecast, driven by production increases in the iron ore and coal sectors.</p> <p>The company’s rail business also exceeded forecasts.</p> <p>"During the year we again raised the benchmark for the highest freight wagon production rate in Australia, at 44 wagons per week in one facility," Mr Hodges said. </p> <p>Bradken believes it can maintain similar margins in the year ahead.</p> <br />