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.