Small increase in Toll annual profit

Transport and logistics firm Toll Holdings posted a three percent rise in the year to June 30 to U$246.21 million from $238.27 million a year ago, highlighted by improved margins across its global logistics division, reported Dow Jones Newswires.

The firm said while trading conditions across its key Australian market stabilised in the second half of the year, it expected economic conditions to remain "generally flat".

"Whilst Australian businesses were challenged by reduced volumes, economic conditions are expected to show modest uplift in volumes during the current year," said managing director Paul Little.

"However, cost savings and efficiency measures undertaken though the year have Toll well positioned to benefit from anticipated improvement in economic activity, particularly in the retail sector," he said.

Revenue from continuing operations rose seven percent to $6.12 billion from $5.72 billion.
(Source:www.cargonewsasia.com)