Australia’s leading transport and logistics group, Toll Holdings, today announced strong growth inearnings for the half-year ending December 31, 2006. The company, which plans to split into
separate operational and infrastructure companies over the next few months, benefited from thesuccessful integration of port logistics group Patrick Corporation and Singapore-based SemblogLogistics.Toll’s half-year revenues rose 142% to A$5,089 million (EUR 3,057 million) includingconsolidation of Patrick and Semblog Logistics. The EBITDA rose 254% to A$843 million, EBIT was up263% to A$631 million, and net profits improved by 137% to A$273 million.
The core Toll Australia Transport division, including its market leading express operators,increased half-year revenues by 11% to A$2.14 billion and EBIT grew by 16% to A$156.6 million. “Thetime-sensitive operations of Toll Priority, Toll IPEC and Toll Fast again produced sound underlyingrevenue growth and margin expansion,” Toll pointed out. Separate results for the express operatorsare not disclosed.
The group said it expected to announce details of the planned freight alliance with itsmajority-owned airline Virgin Blue shortly.
Toll Managing Director Paul Little said that the company was delighted with the result andthe progress made during the last six months. “The strength of earnings and cash-flows togetherwith the progress made with acquisition integrations is clear evidence that the business is tunedand ready for the next stage of its evolution,” he said. Trading conditions across the entirebusiness remained robust, with the exception of New Zealand which had a flat economic environmentduring the course of the six months.
“Throughout the business, there is enthusiasm to complete the restructure and move to anexciting new phase of growth,” commented Mr Little in relation to the proposed formation of theseparately listed Infrastructure Co and separation of rail and port assets into the new company.
