Brambles profit slides 27% due to higher costs

Company News

by Anna Napoli

Global logistics company, Brambles (ASX:BXB) has announced its 1HFY19 net profit fell 27 per cent to US$319.8 million on the back of higher operating costs and challenging macro-economic conditions.

Sales revenue (continuing) increased 3 per cent to US$2.86 billion.

Underlying earnings (EBITDA) fell 5.3 per cent $US795.9 million.

The company declared an Interim dividend per share AU14.5 cents.

In a separate announcement released to the ASX today the company confirmed the ongoing separation of its IFCO RPC business which is due to complete during 2019.

Shares in Brambles (ASX:BXB) are trading 2.49 per cent lower at $10.96.