Toll NZ’s Australian parent company Toll Holdings has reported a decline in first-half profit.
In the six month period to December 31, Toll Holdings posted a net profit of AUD $172.1 million, a 10.1% fall on the AUD $191.4 million recorded in the previous period.
Revenue was AUD $4.52 billion, a 0.5 % decline on the previous corresponding period’s $4.546 billion.
The group will pay a fully franked interim dividend of AUD 13c on April 4, to shareholders on the register at March 5.
Toll managing director Brian Kruger says the he was not assuming any near-term improvements in the external economic environment.
Kruger says that Toll would focus on improving returns through winning new business, increasing productivity and looking for further opportunities to improve efficiency and management of operating costs.
“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 says.
