News Content
Toll posts 1.4pc profit hike to US$157.5 million on flat revenues
AUSTRALIA' s transport and logistics provider, Toll Group, has posted 1.4 per cent year-on-year second half 2013 net profit of A$176 million (US$157.5 million), drawn on a flat revenues of A$4.5 billion.
The group has "continued to invest in its core network businesses despite on-going economic and market driven challenges in both domestic and international markets, particularly in the resources sector", said managing director Brian Kruger,
"This result has been well supported by progress in improving productivity and reducing costs. While we have continued to do well retaining key customers and winning new contracts, the competitive environment has maintained pressure on margins.
"We remain disciplined in the returns we require when bidding for new work and this has limited revenue growth in some markets," Mr Kruger said.
"Overall, assuming no material change in the external environment we continue to expect underlying earnings before interest and tax for the 2014 financial year to be ahead of the prior year," he said.
Overall, the group generated operating cash flow of A$308 million, and invested A$205 million in capital expenditure, with depot related investments and fleet upgrades the key areas of investment.
The company release said that its global logistics segment "produced good earnings growth on the back of new contract wins despite uncertain market conditions in the Southeast Asia region and in Australia".
But its global forwarding division "continued to face difficult market conditions, with on-going ocean freight capacity increases and customers still transferring freight from air to ocean".
The group has "continued to invest in its core network businesses despite on-going economic and market driven challenges in both domestic and international markets, particularly in the resources sector", said managing director Brian Kruger,
"This result has been well supported by progress in improving productivity and reducing costs. While we have continued to do well retaining key customers and winning new contracts, the competitive environment has maintained pressure on margins.
"We remain disciplined in the returns we require when bidding for new work and this has limited revenue growth in some markets," Mr Kruger said.
"Overall, assuming no material change in the external environment we continue to expect underlying earnings before interest and tax for the 2014 financial year to be ahead of the prior year," he said.
Overall, the group generated operating cash flow of A$308 million, and invested A$205 million in capital expenditure, with depot related investments and fleet upgrades the key areas of investment.
The company release said that its global logistics segment "produced good earnings growth on the back of new contract wins despite uncertain market conditions in the Southeast Asia region and in Australia".
But its global forwarding division "continued to face difficult market conditions, with on-going ocean freight capacity increases and customers still transferring freight from air to ocean".
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
