TOLL SEES REVENUE AND PROFITS RISE

For the year ending June 30, 2009, Australia-based Toll Holdings reported an income of A$298.1 million (US$260 million), an increase of $37.3 million compared to 2008. Revenue for the year was $6.5 billion, an increase of 16 percent over the previous period’s $5.6 billion.

“This is an excellent result given the difficult trading conditions, underpinned by a solid performance in the Australian business. EBIT margins in the Australia/ New Zealand business were maintained at 7.6 percent and Toll Asia margins remained at 10.5 percent as a result of excellent cost control. The Global Forwarding business recorded a lower margin of 2.2 percent compared to 2.8 percent in the previous year due to significantly lower volumes,” announced the company in a statement accompanying the release of the financial figures.

Total revenue for Toll Asia for the year was $724 million compared to $605 million in the prior year. Toll Asia’s high level of involvement with the fast moving consumer goods market reportedly cushioned the impact of the global economic crisis, particularly in the major markets of India, China, Singapore and Vietnam. However, significant volume reductions were experienced in the consumer electronics, automotive and industrial sectors.

Key highlights in Toll’s Asian operations during the 2009 financial year included the he acquisition of 40 percent of BIC Logistics, to provides Toll with its first multi-modal transport network in India and complement existing warehouse operations and provides further exposure to the automotive sector in the country; key contract wins, including Coca Cola China, Nestle Singapore and Indorama Thailand; and completion of new warehouses, which adding 54,000 square meter capacity in key regions such as Shanghai and Mumbai.