Toll Holdings will continue its growth by acquisition strategy despite today's announcement of a 32 percent drop in first-half net profit.
The Australia-based logistics giant saw double digit drops in revenue in four of its six global divisions, dragging its earnings down from US$140 million to $95 million.
"This has been one of the toughest trading environments for the logistics sector in many years," managing director Paul Little told reporters.
The tough year looked set to continue with Toll shares plunging nearly 18 percent to a six-month low as the bleak interim results reached the ears of investors.
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