A hefty rise in Asciano’s full year net profit has been reflected in a pay rise for the port and rail operator’s chief executive John Mullen.

The company’s annual report, released on Friday, showed Mr Mullen’s take-home pay was $3.3 million in 2011/12, more than double the $1.4 million he received in the prior year.

In addition, he received share-based payments worth $626,205, well above $120,789 for the same category in 2010/11.

The rise in pay came after Asciano’s full year results, published in August, showed net profit for the 12 months to June 30 rose 43 per cent to $242.7 million.

The result was achieved despite the effect of industrial action on its business.

Writing in the annual report, chairman Malcolm Broomhead and Mr Mullen said healthy import volumes and ongoing demand for coal would help support a “solid year” of growth in 2012/13.

Each of Asciano’s core divisions were operating in industries that showed good long-term fundamentals, despite some short-term fluctuations.

“Coal exports will continue to grow despite price fluctuation,” Mr Broomhead and Mr Mullen said.

“This demand will ensure growth in coal volumes which in turn will provide a strong basis for Asciano’s coal division.”

The pair said Australia, being an importing nation, would continue to see container volumes across Asciano’s ports, fuelling the need for rail transportation as those goods are delivered.

While no specific earnings guidance was given, the company intends to update shareholders on the progress of the business at the November 15 annual general meeting.

The remuneration report also showed Paul Garaty received a termination payment of $625,000 after the former head of Asciano’s Patrick division left the company.

Asciano shares closed one cent higher at $4.46.