Toll profit rises 7% in fiscal year

Toll profit rises 7% in fiscal year    Australia-based global logistics company Toll Group said its operating profits rose 7 percent to $413 million in the financial year ending June 30.
   Revenue for the company, parent of Toll Global Logistics (TGL), also rose 7 percent to $5.7 billion. The TGL business saw operating profit increase 10.9 percent to $89 million, despite revenue decreasing 6.3 percent to $1.1 billion. Its forwarding division, Toll Global Forwarding, saw operating profit rise 11 percent to $17.8 million, while its revenue rose 15.5 percent to $946 million.
   Toll also operates large global express, domestic forwarding, and marine and mining divisions.
   The company has made several acquisitions during the past year including Summit Logistics International, a freight forwarding and supply chain business based in New Jersey that had annual revenue of about $267 million. Toll said Summit is a top five provider on the transpacific between China and North America and had an extensive operational platform in China, Hong Kong and the United States.