Pallet maker Brambles Ltd
(ASX:BXB) says it expects sales for fiscal 2010 to be flat, reflecting a slow recovery in major markets.
The company has reported a 1% drop in sales revenue for the nine months to March 31, while sales for its CHEP US business were down 4%.
It expects pallet volumes at its US business to be down 3% in fiscal 2010 compared to the previous year.
CEO Tom Gorman says the company is in a strong financial position and will continue to focus on pursuing profitable growth opportunities.
Sales revenue was flat in Europe, Middle East and Africa, while Asia-Pacific sales grew by 4% thanks to growth in the developing markets of China and India.
For fiscal 2009, Brambles reported a profit of $557.8 million.
