Poor result drives Toll share price down


Toll’s share price retreats a further 4.64 percent today after crashing 18 percent yesterday

February 26, 2010

Toll’s share price has retreated a further 4.64 percent today after crashing 18 percent yesterday following the announcement of significant declines in both revenue and profit in the half year ended December 31, 2010.

The company’s share price fell $1.55 to $7.10 yesterday; and has fallen a further
33 cents to $6.77 so far today (3pm Brisbane time).

Yesterday Toll revealed earnings before interest and tax (EBIT), acquisition amortisation charges and a re-measurement charge associated with the purchase of Footwork Express, fell 16 percent to $224.1 million in the period.

Revenue dropped 6 percent – or around $200 million – to $3.3 billion, with sales across the group hit by the impact of the global financial crisis.


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