Brambles Reports Higher Quarterly Revenue, Keeps Guidance

   By Ross Kelly 
 

SYDNEY--Wooden pallets supplier Brambles Ltd. (BXB.AU) on Thursday said first-quarter revenue rose 3% from a year earlier as customer growth helped offset sluggish economic conditions, particularly in Europe.

The Australian company, which also supplies re-useable plastic containers to the fresh-produce industry, said revenue in the three months to Sept.30 rose to US$1.43 billion, led by 10% growth in the Americas and 6% growth in the Asia-Pacific region.

Strong growth in those places was offset by a 3% revenue decline in Europe and 4% slide in the company's Recall document-management business.

Currency fluctuations had a negative impact on revenue overall, Brambles said in the quarterly update, adding that in constant currency terms group revenue jumped 8%, and only declined at Recall.

Brambles kept its guidance for the year to June 30 of underlying profit, in constant currency terms, of between US$1.01 billion and US$1.07 billion.

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