Toll shares fall 14% on profit forecast

Toll Holdings shares fell 14% this morning after the company said its pre-tax earnings for the financial year will be lower than the previous corresponding period.

 

The company says it now expects pre-tax earnings of between $400-420 million, down from the previously recorded $436 million.

 

Chief executive Brian Kruger, says the business had come under “continued pressure from the soft retail sector”.

 

”In addition, we had seen a deterioration of the performance of Footwork Express, and continued poor financial and operational performance in Toll Marine Logistics… particularly in Asia,” he says.

 

This article first appeared on SmartCompany.

COMMENTS

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Close
SmartCompany Plus

Sign in

To connect a sign in method the email must match the one on your SmartCompany Plus account.
Or use your email
Show
Forgot your password?

Want some assistance?

Contact us on: support@smartcompany.com.au or call the hotline: +61 (03) 8623 9900.