The logistics company reported revenue of $7.6 billion, and Earnings Before Income Tax (EBIT) of $341 million, which it says was a significant increase from the previous year.

“2022 was a very significant year for Toll Group,” Thomas Knudsen, Toll Group Managing Director, says.

“We divested the loss-making Australian Express business, simplified our operations, and delivered strong growth in our forwarding and logistics operations,” he adds.

Toll Group says it delivered a net profit and positive cash flow for the year.

It adds that Global Logistics reported revenue of $3.3 billion and an EBIT of $137 million with strong performances in government contracts in Australia and Singapore contributing to the result – including the company’s important work in supporting the pandemic response.