Brambles Reaffirms Guidance for Flat FY17 Underlying Profit

   By Robb M. Stewart 
 

MELBOURNE, Australia--Brambles Ltd. (BXB.AU) has notched up 4% revenue growth over the first nine months of its financial year despite what it said was ongoing macroeconomic uncertainty, areas of softer demand and strong competition in most markets.

The supplier of reusable pallets, crates and containers also said the strength of the U.S. dollar had weighed on revenue growth. Still, it continued to expect sales revenue for the year through June on a constant-currency basis would be in line with its first-half performance and underlying profit flat year-over-year.

For the nine months, revenue from continuing operations totaled US$4.09 billion, helped by modest pricing and new business growth in the U.S. pallets business and strong volume growth in European pallets despite weaker demand in Southern Europe, Brambles said. The company also saw continued momentum in emerging markets, particularly in Latin America.

Write to Robb M. Stewart at [e-mail]

(END) Dow Jones Newswires

April 18, 2017 19:04 ET (23:04 GMT)

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