Brambles Ltd
(ASX:BXB) says it on track to achieve an operating profit of between $US740 million and $US780 million in the 2011 fiscal year.
However, the logistics company and pallets supplier advises that its latest purchase of IFCO Systems NV is unlikely to contribute to this full year result.
Earlier this week Brambles said it will acquire plastic container provider IFCO for $US1.3 billion to diversify sales and boost its customer base.
Yesterday at its annual general meeting the company said the IFCO deal would be finalised within nine months, pending on merger clearance, with the costs of the transaction to be included in the current financial year’s result.
CEO Tom Gorman confirmed that Brambles expects to deliver constant currency sales revenue growth in all four of its business units.
Brambles booked a $526.57 million net profit in the year to 30 June 2010.
