Toll Holdings boosts sales, earnings in New Zealand

Friday 10th February 2012

Toll Holdings, which competes with Mainfreight in New Zealand’s transport and logistics sector, lifted revenue last year, driving a 47 percent gain in operating earnings.

Sales climbed 8.3 percent to $377 million in the year ended June 30, according to Toll Group (NZ)’s financial statements, which were released to the Companies Office. Operating earnings rose to $7.25 million from $4.9 million.

The local unit of Australia’s biggest trucking company, posted net profit of $30.9 million, from a loss of $30 million in 2010, with the main change being a foreign exchange gain of $49.9 million in the latest period and foreign exchange loss a year earlier.

Toll’s ASX-listed shares rose 1.9 percent to $5.065 and have climbed about 18 percent this year.

The company in 2008 sold its rail and ferry operations to the New Zealand government for $665 million, with the assets later being renamed KiwiRail.

(BusinessDesk)

BusinessDesk.co.nz

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