Toll still keen on acquisitions as earnings dip

The transport and logistics group plans to lift earnings after revealing a fall in net profit for the 12 months to June 30. The group said annual net profit fell 3 per cent to $293 million while revenue rose 7 per cent to $6.94 billion. The result was in line with expectations, the weaker figures underpinned by challenging economic conditions in Australia and lower volumes. Evans and Partners senior analyst Paul Ryan noted that markets in Europe and the US continued to look depressed and that Toll should be able to secure better pricing for assets there. Click here to view full article