Toll airfreight encouraging
22 / 02 / 2012
TOLL Global Forwarding (TGF) recorded a rise in airfreight figures during the six months ended 31 December 2011.
Volumes increased around 10 per cent to 66,000 metric tonnes, largely due to the full-year impact of previous acquisitions.
The ex-Asia airfreight market was very weak during this half, reflecting the declining volumes reported at most major airports. The market has also seen a noticeable swing from airfreight to ocean freight in the retail sector during calendar 2011, TGF says.
“This swing from airfreight to ocean freight has been consistent in all markets, with importers in all regions minimising the use of higher cost airfreight services,” the company adds.
During the period Toll Group reported a net profit after tax of AU$158 million (US168.5 million), down four per cent compared to the corresponding period, and sales revenue of AU$4.4 billion ($4.69 billion), up five per cent. Total operating profit was AU$248 million ($264.5 million), down two per cent.
The lower headline revenue reflects the combination of the stronger Australian dollar and a reduction in market carrier freight rates of approximately 14 per cent for airfreight, TGF comments.
“Our challenge going forward will be to focus on maximising returns from recent capital and acquisition expenditure and to take advantage of the many organic growth opportunities that we have in Australia and in our chosen overseas markets,” Brian Kruger (pictured), managing director of Toll Group, says.