Toll reports modest profit drop

February 23, 2012

Transport group Toll Holdings has had a four per cent fall in first half profit and says economic conditions make it difficult to forecast its performance for the rest of the year.

Toll on Thursday posted a net profit of $158 million for the six months to December 31, 2011, down from $164 million in the previous corresponding period.

Sales revenue in the first half of $4.4 billion was up five per cent from $4.2 billion in the previous corresponding period.

Toll declared a fully-franked interim dividend of 11.5 cents per share.

"While the volatility we are all seeing in the macro-environment makes it very difficult to have a firm view on the outlook for the remainder of the year, we are confident that Toll is following a strategic path that will provide superior, sustainable returns for our shareholders over the longer term," managing director Brian Kruger said in a statement.

More to come

AAP