Toll agrees to be more transparent

Toll Holdings’ chief executive, Paul Little, has said that his company would engage with analysts in a more transparent way, the Australian Financial Review reported.

It is hoped that the announcement will help avoid a repeat of this month’s market volatility, following disappointment over Toll’s half-year result.

"We have accepted the market’s view on the level of disclosure that they believe they want from us and we will respond accordingly in the future," Little said.

The Australian Securities Exchange last week questioned Toll – which owns the Footwork Express business – over its disclosure practices, after its shares dwindled by almost 20 percent.

If Toll is found guilty of breaching continuous disclosure obligations, the exchange could refer the matter to the Australian Securities and Investments Commission.

(Source: Cargo News Asia)