Brambles sales revenue rises 5% in 1Q, FY17

Company News

by David Chau

In the first three months of this financial year, Brambles (ASX:BXB) reported a 5% rise in sales revenue. On a constant currency basis, this is a 7% increase.

The company says this was due to solid growth with new and existing customers in Pallets Europe, Middle East & Africa, and strong conversions with existing customers.

For the 2017 financial year, the company is expecting constant-currency sales revenue growth between 7 and 9%, and underlying profit to grow between 9 and 11%.

Brambles says that its Pallets segment had a somewhat subdued first-quarter performance, but expects there will be stronger sales revenue growth in the second half of this financial year.

Brambles posted a net profit of $791.4 million at 30 June 2016.

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