Brambles in confident financial-year forecast


Strong outlook call backed by buoyant first quarter sales performance globally and regionally

Brambles in confident financial-year forecast
Tom Gorman is confident of growth

 

Australia’s global freight container firm, Brambles, has issued a bullish forecast supported by positive first quarter trading figures.

The performance extends to the regional business that includes the home country, with pallets, reusable produce crates (RPCs) and acquired containers businesses all contributing.

One indication of the health of the economy and a clue to transport and logistics demand, the statement is likely to be welcomed by the industry.

"Notwithstanding increased economic uncertainty during the period, we are pleased with our trading result for the first quarter of the 2015 financial year, which reflected a resilient underlying performance as we continue to execute our growth strategy," CEO Tom Gorman states.

"We remain confident of stronger sales revenue growth for the Group in the second half, reflecting our expectation of a continued strong performance in the Pallets and RPCs operations and, in Containers, the contribution of recent contract wins and acquisitions."

In its full-year forecast undated due to its purchase of UK container business Ferguson, Brambles expects gross profit at US$1.055-1.085 billion, reflecting growth of 9-12 per cent, on sales growth of 8-9 per cent.

Compared with the previous first quarter, this quarter has seen growth of 5 percent in pallets, 10 per cent in RRCs and 19 per cent in containers, with Asia-Pacific sales up 5 per cent to US$92 million.

RPCs growth in subsidiary CHEP’s Australia, New Zealand and South Africa segment was 10 per cent to US$29 million.

Australia and New Zealand pallets sales revenue was up 11 per cent to US$78 million.

 

 

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