Toll to triple revenue

AUSTRALIA-headquartered freight forwarder Toll is looking to triple global revenues in three years thorough acquisitions projects.

Toll, with an approximate AU$1 billion (US$1.049 billion) on its balance sheet, is eyeing expansion in the US freight forwarding business to generate revenues of AU$1.5 billion ($1.573 billion) within two years.

Its chief target however is to triple revenues from its total global operations to about AU$3 billion ($3.147 billion) over three years mainly through growing activity in Asia.

Toll reported a better than expected 3.7 per cent rise in net profit to AU$294.8 million ($309 million) for the year ending 30 June.

Toll chief Paul Little will be replaced by the current chief financial officer Brian Kruger at the end of the year.

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