Shaw gives Little the thumbs up for future

<p>Business analyst Shaw Stockbroking gave Toll Holdings a glowing review today (Friday, November 3), with a very positive note on the company’s future. </p> <p>&#8220The outlook for Toll is extremely promising, with a combination of continued strong organic growth in both Australia and Asia, further investment in infrastructure, acquisition opportunities and increased outsourcing,&#8221 Shaw said. </p> <p>&#8220This will be boosted by a recovery in Pacific National and Virgin Blue and the benefits of the recent Patrick and SembCorp acquisitions. </p> <p>&#8220Toll is now able to provide a fully integrated logistics solution to customers both domestic and international. It has the opportunity to further build its customer base through expanded Asian operations. </p> <p>&#8220The Patrick integration will result in projected cost savings and synergies of over $62m, before revenue synergies as well as providing margin leverage.&#8221</p> <p>The endorsement came two days after it was revealed subsidiary Virgin Blue would buy three Embraer 170 aircraft, and 11 Embraer 190s, plus options for six more aircraft in a deal worth $950m.</p> <p>As these are smaller aircraft, the move would not seem to have an impact on Toll’s airfreight ambitions.</p> <p>At its annual general meeting last week, Toll managing director Paul Little underlined the importance of airfreight to the company.</p> <p>Virgin Blue chief executive Brett Godfrey made no mention of freight in his remarks about the purchase.</p> <br />