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Toll Group profits rise

Toll Group profits rise

TOLL Group, the designated commissionaire for the Kingdom’s revamped railway system, announced that its operating profit was anticipated to rise between 5 and 10 percent year on year for the first six months of 2010. Lower volumes in its Australian and New Zealand freight divisions were offset by stronger performances of its more recent purchases, which were concentrated in Asia, it said. The Australian firm also announced that it had bought Asian logistics firm DPEX Group from Sydney-based airline Qantas Group for US$24.6 million on Monday. “The acquisition of the DPEX business is a great example of our growth strategy,” Toll Group’s Managing Director Paul Little said in a press release. Listed on the ASX, Toll’s shares were trading at A$4.64 (US$3.79) at press time Tuesday, a 5 percent drop from A$4.88 at Friday’s close.

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