The wholly owned venture of Patrick Corporation and Toll Holdings based the result on revenues of $809 million and earnings before interest and tax of $84.9 million.

 

Profits were mainly due to high volumes in the coal and industrial sectors, with cartage quantities ahead of plan. Forecast results continued to be in line with expectations with a confident outlook.

 

Business restructure continued to be a priority throughout the operations, with

efficiency improvements apparent in relation to maintenance and workplace processes.

 

Spokesmen for the shareholders said the business continues to perform ahead of expectations, however future growth particularly in relation to intermodal volumes was critical to the ultimate success of the business.

 

Recent issues associated with infrastructure provided by the NSW Rail Infrastructure

Corporation, in particular the closure of the Menangle Bridge south of Sydney, had undermined the reliability of the rail network.

 

This had exposed the urgent need to rationalise track access management and release Government funding to upgrade the network.