SHOULD anyone from Citigroup ever get around to calling Don Braid, he will be happy to have a chat. Braid is managing director of Mainfreight New Zealand and, according to the schedule for next week's second annual Citigroup tour of Toll New Zealand, he is due to meet a swag of Aussie analysts on Friday at about 2pm. Only trouble is, no one has told Mainfreight that the Australians are coming. And, anyway, Braid is going to be in Australia for the whole of next week. Which is a shame really, because Braid, a major customer and regular sparring partner of Toll, has something to tell anyone who is prepared to listen.
A huge overhaul of New Zealand's 15-year-old railway communications system and the installation of GPS units in locomotives is set to result in better passenger information, increased fuel efficiency and improved safety for the rail network.
Auckland rail will receive $66 million for a crucial duplicate track to boost services between New Lynn and Henderson - but faces a nine-month delay before it is ready.
Government funding agency Land Transport New Zealand has added $34.8 million to a preliminary grant of $4.8 million for the project, to which the Auckland Regional Council will also contribute $26.4 million.
Toll NZ wants to build more rail equipment in New Zealand, including new locomotives. In his first interview since becoming Toll NZ's rail chief, Gary Taylor said yesterday the company was now considering options for new locomotives.
Transport and logistics firm Toll Holdings Ltd reaffirmed its expectation of a record financial result for fiscal 2005 and said it was well positioned for acquisitions. Toll reported a 59 per cent lift in net profit for the 2004 financial year of $168.6 million, helped by a contribution from its New Zealand acquisition, Toll NZ (formerly Tranz Rail).