TOLL Holdings Limited, a provider of integrated logistics services in Asia, has announced a "solid" result in "challenging conditions" for the second half of 2011.

It said in a statement that net profit after tax amounted to A$158 million (US$169.24 million), representing a decrease of four per cent year on year.

Second half sales revenue came in at A$4.4 billion, up five per cent. On the other hand, total operating profit (EBIT) fell by two per cent year on year to A$248 million.

According to Brian Kruger, managing director, he said the group's exposure to the resources sector as well as the faster growing markets in Asia helped offset the difficult conditions in discretionary retail and in the manufacturing sector in Australia.


Source Shipping Gazette - Daily Shipping News