Brambles Ltd
(ASX:BXB) has confirmed that it expects full-year operating profit of up to $US780 million, after posting an improvement in sales revenue.
In the nine months to the end of March the logistics company says sales revenue grew 5 per cent to $US3.27 billion, reflecting growth in all business units.
However, CEO Tom Gorman has cautioned that business conditions remain challenging in its largest European markets and consumer activity in the US has been modest to date.
Brambles advises that its latest full year guidance is prior to the contribution of IFCO Systems, which the company will consolidate in its results for the three months ending 30 June, 2011.
IFCO Systems is expected to contribute operating profit before interest costs and tax of between $US35 million and $US40 million.
In the first half of its 2011 financial year, Brambles booked a net profit of $216 million.
