Comment / Toll in the black – P&L relief; junk balance sheet; weak cash flows

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Now let’s start immediately with one piece of ’fresh insight’ that, in fairness, we all expected to find in the paywalled annual results* lodged with the Australian Securities & Investments Commission by Toll Group earlier this month:

(*Fiscal 2024 to 31 March; previously on this screen: snapshot here, based on scant available disclosure in May; emphasis in bold added below.)

“Prior to the date of this report [31 March 2024], the group successfully refinanced its existing debt facilities“… R.E.A.L.L.Y. … “providing access ...