Trailer Magazine

Toll expects a better year

  • Posted on Friday 26th, October 2012.

Sales revenue across the Toll Group rose by 5.9 per cent to $8.7 billion for the year ended June 30, 2012. This represents an increase of 5.9 per cent over the previous financial year and produced a net profit after tax for the group of $274.2 million - equating to a 5.8 per cent decline.

Considering several non-recurring “one-off” items relating mainly to Toll Express Japan (Footwork Express) and some of Toll’s Australian properties, net profit was further reduced to $70.9 million.

In the Annual Report, Toll Board Chairman Ray Horsburgh describes this as a “strong underlying result in very challenging market conditions.

“We have produced a strong result despite some write downs in some businesses,” Mr Horsburgh said, also paying tribute to Brian Kruger, who took over as Managing Director following the retirement of Paul Little last December after 26 years. Horsburg said that he hoped that Paul Little would rejoin the Board in a non-executive capacity sometime in the future.

Like many freight operators, Toll’s results were affected by the sometimes sluggish manufacturing and retail activities experienced in many countries, particularly Australia and Great Britain. The diversity of Toll’s international operations, however, provided them with much benefit from sectors such as the Australian mining industry.

Mr Kruger was positive about the future and is confident that the Group’s results for the current financial year would show an improvement. “While we do not expect external conditions to get any easier in the short to medium term, we are seeing no signs of any further deterioration, at least at this early stage of the (financial) year,” he said in the Annual Report.

“At this stage we still expect to deliver an improved underlying earnings result in the current financial year,” he told the Annual General Meeting in Melbourne.

Toll has operations in more than 55 countries and has around 45,000 employees and contractors.


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