Brambles profits tumbles 69 per cent to $182.9m

Company News

by Jessica Amir

Brambles (ASX:BXB) has reported a 69 per cent drop in its profit after tax to US$182.9 million for the 2017 financial year.

The logistics firm was hit by a significant item write down of US$436.1 million, which included a US$243.8 million non-cash impairment for its CHEP recycled business.

Brambles revenue meantime rose 6 per cent (in constantly currency terms) to US$5.1 billion.

The company’s EBITDA softened to US$1.3 billion down from US$1.4 billion in the full 2016 year.

The board declared a final dividend of 14.5 cents per share, in line with the previous interim and final dividend. Total dividends for the year were 29 Australian cents per share.

Shares in Brambles (ASX:BXB) are trading 0.77 per cent lower to $9.69.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.