Toll salutes re­vival progress and fi­nan­cial growth

Australian Transport News - - NEWS -

Toll Group has re­versed its re­cent fi­nan­cial di­rec­tion, re­turn­ing to an­nual re­sults growth af­ter a huge slump, with this year’s fi­nan­cial re­sults show­ing an­nual profit and rev­enue gains for the first time in three years.

Earn­ings be­fore in­ter­est and tax (EBIT) was $119 mil­lion for the year ended March 31, an im­prove­ment of over 70 per cent on the 2017 fi­nan­cial year, while its rev­enue of $8.2 bil­lion was up $309 mil­lion on the prior year.

The com­pany’s EBIT had fallen from $379 mil­lion to $69 mil­lion over two years.

Toll Group MD Michael Byrne says the per­for­mance marks “the suc­cess­ful ex­e­cu­tion of the first year of Toll’s trans­for­ma­tion strat­egy”.

“Our trans­for­ma­tion con­tin­ues, and our re­sults to date show that our strat­egy is the right one for to­day’s mar­kets and the long-term op­por­tu­ni­ties ahead.”

Toll’s Global Lo­gis­tics di­vi­sion re­ported an EBIT of $ 191 mil­lion, up 13 per cent, on the back of strong per­for­mances in Asia and in key seg­ments in Aus­tralia in­clud­ing gov­ern­ment and de­fence, min­ing, en­ergy and re­tail.

Global Ex­press de­liv­ered a $59 mil­lion turn­around com­pared to last year’s re­sult, while Global For­ward­ing re­turned to profit, de­liv­er­ing close to a $9 mil­lion im­prove­ment to EBIT, de­spite a chal­leng­ing mar­ket re­sult­ing in re­duced mar­gins.

Toll also se­cured the de­liv­ery of 1,000 new items of fleet and equip­ment, part of a six year $1.6 bil­lion as­set in­vest­ment pro­gram, with an­other 1,500 items to be added to its net­work this year.

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