Freight forwarder Toll has seen revenues and operating profits decline since its takeover by Japan Post last year.
The Japan Post Group, which is reportedly interested in the purchase of DHL Global Forwarding, released its results for the nine month period until the end of December.
Its international logistics business, which is Australia-headquartered Toll, saw revenues for the six months ended December 31 decline by 1.4% year on year to A$4.3bn, while earnings before interest and tax declined by 24% year on year to A$188m.
However, Japan Post described the results of its international logistics business as sound.
“While the Australian and Asian economies are expected to remain challenging mainly due to the on-going weakness in the resources sector impacting the broader market, Toll has produced sound results given the business environment,” it said.
The financial results for Toll were only included for the six month period as this is when the forwarder became a consolidated subsidiary of Japan Post.
Last week, it was revealed that Japan Post could be interested in buying DHL Global Forwarding from Deutsche Post.
