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Article: Inside Pacific National profit.
- Article from:
- Australasian Business Intelligence
- Article date:
- October 1, 2006
CopyrightCOPYRIGHT 2006 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: James Hall
Oct 01, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Toll Holdings has released an information memorandum for the sale of its stake in Pacific National. Toll promised to divest its stake in the rail freight operation in order to gain Australian Competition & Consumer Commission approval to acquire Patrick Corporation. The information memorandum predicts that Pacific National will record an 11 per cent improvement in gross profit for 2006-07. It is believed that Toll's reserve price for the sale of its interest in Pacific National is about $A1.2 billion. However, the forecast earnings are dependant on grain volumes.
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