The country's biggest port and rail operator, Asciano Group has reported a half-year loss of $71 million to the end of December.

But the company is forecasting earnings growth of between 10 to 15 per cent a year in the long term.

Asciano bought a 4 per cent stake in Brambles last year, fuelling rumours it might make a bid for the pallet provider.

The company's shares tumbled more than 5.5 per cent in early trade to $4.69.