Brambles looks to demerger food logistics business

Company News

by Rachael Jones

Pallets company Brambles (ASX:BXB) has seen its profit after tax surge 308 per cent to US$747.1 million on the prior corresponding period. 

Their revenue rose 10 per cent on financial year 2017 to $5.6 billion 

The company is pursuing a demerger of its IFCO fresh food logistics business and are hoping to list it as a separate
business.

That company has plastic containers that transport fruit and vegetables and other produce between primarily in Europe, Asia and Americas. 

They are offering a final dividend per share 14.5 cents

Shares in Brambles (ASX:BXB) are 6.48 per cent higher to $10.61.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.