Brambles (ASX:BXB) dividend down 37.9%

Company News

by Rachael Jones

Brambles (ASX:BXB) has reported first half underlying profit of $US435.5 million, up 1 per cent net on the prior corresponding period and 5 per cent higher excluding foreign exchange impacts.

Revenue grew 7 per cent to $US2.4 billion, on the prior first half before foreign exchange impacts.

The company said it will pay an interim dividend of US9 cents that’s 13.39 cents per share, which is down 37.9 per cent on the first half of last year.

Profit after tax fell to $278.9 million, down 13 per cent after currency costs.

Operational cash flow jumped to $US321.8 million, up from $US137.9 million the 2019 first half.

Shares in Brambles (ASX:BXB) closed 0.24 per cent lower at $12.65 on Friday.