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Toll posts 51% jump in half-yearly profit

<p>Pacific National has helped Toll Holdings post a huge 51% increase in profit for the six months to December 31.</p> <p>Toll recorded after-tax earnings of $85.2m for the half-year, with Toll’s 50%-owned rail venture Pacific National contributing after-tax earnings of $17.3m for the period.</p> <p>The result from Toll’s recent acquisition, Tranz Rail, was earnings of $10.7m &#8211 in line with company expectations.</p> <p>"The result was excellent, in a period when much had been done to position the company for strong earnings and cash flow growth into the future," Toll managing director Paul Little said.</p> <p>The second half of the year promises to deliver a record yearly result for the company, Mr Little said.</p> <p>He also disclosed that Pacific National is in talks to buy Tasmanian rail freight operator Tasrail. </p> <p>Toll gained a 27.5% stake in the island’s rail freight system when New Zealand’s Tranz Rail Holdings was added to its various list of subsidiaries last year. </p> <br />