Toll forges ahead, focuses on Asian acquisitions
While considerable volatility exists in global debt and equity markets as well as in global energy prices, the logistics sector's fundamentals remain favourable as global trade and the trend to outsourcing continues, the Toll Group says.
November 1, 2008
In 1986, Toll was sold to a management buyout team, and in 1993 the company was listed on the Australian Stock Exchange (ASX). Since the listing, Toll has progressively grown into a leading ‘integrated total logistics provider’ locally and abroad.
Strong express growth
“The express and time sensitive operations of the company grew strongly throughout the year (ended 30 June, 2008), supported by investment in a new national air linehaul network and targeted operations,” says Paul Little, managing director of the Toll Group.
“These express operations represent approximately 35 per cent of divisional revenue and are pivotal in servicing increased volumes arising from Asian direct sourcing activities of Australian customers,” he says.
Top Priority, the group’s air express operator, also performed well and completed the acquisition of SkyNet, an international air express operator in the financial year ended 30 June, 2008. While the cost of additional investment in the air linehaul network impacted its results, the group expects revenue to improve as the potential integration with the developing international Asian air network is expected to drive additional profitable growth.