Transport and logistics group, Toll Holdings, has posted a 77% fall in full year profit in the year to June 30, down to $64.6 million, from $281.4 million, the year before.
The company’s pre-tax and pre-interest earnings were down 6%, despite a 6% increase in revenue to $8.7 billion.
Toll’s managing director Brian Kruger says, while trading conditions are currently difficult, he is optimistic about the company’s long-term outlook.
“While we don’t expect any short term improvement in external conditions, recent new contract wins – combined with our ongoing investment in fleet, property and IT – will help us support future earnings growth,” he says.
“Toll is well positioned to continue sustainable, disciplined growth in the years to come.”
The final dividend remains unchanged on last year’s fully-franked payout of 13.5 cents per share, and will be paid to shareholders on October 22.
