Brambles Reports Strong 1Q Trading in Pallets, On Track to Deliver FY13 Profit Guidance

Brambles Limited is reporting sales revenue of US$1,425.0 million in the three months to the end of September 2012, up 3% 1 on the prior corresponding period (8% in constant currency2), reflecting continued new business growth in the Pooling Solutions operations.

Brambles Chief Executive Officer, Tom Gorman, said: “First-quarter sales revenue was encouraging in our largest operation, the Pallets segment. The Americas region, including IFCO Pallet Management Services in the USA, delivered strong growth, while Europe, Middle East & Africa was resilient amid weak economic conditions.

“In Reusable Plastic Crates (RPCs), constant-currency sales revenue growth for the first quarter was 12%. We remain committed to our 15% sales revenue growth guidance for RPCs for the full financial year. The Containers segment traded in line with our expectations in the quarter.

“In Recall, new business wins and pricing growth in the first quarter were insufficient to offset fully the impact of lower paper prices and reduced activity in the Secure Destruction Services business. We continue to expect constant-currency sales growth from Recall over the full year.

“Subject to unforeseen events and ongoing economic uncertainty, we remain on track to deliver our guidance for the 2013 financial year for Underlying profit of US$1,010 million to US$1,070 million, at 30 June 2012 foreign exchange rates.”


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