Brambles, the world’s largest pallet pooler, experienced a 3 per cent drop in group sales revenue to $US1.4 billion, according to its report for the four months to October 31 (See release.) Its CHEP pallet business in the Americas, which reported a 5 per cent fall in revenue to $US513 million for the period, was a major contributor.
The US pallet business experienced lower volumes due to weak economic conditions and had been unable to find enough new customers to counter the loss of business. As a result, some 4 million pallets currently sit idle at CHEP depots.
Brambles also announced it would cancel its secondary listing on the London Stock Exchange to eliminate administrative and maintenance costs. (See release.)
Source: Brambles
