Brambles maintains profit guidance

Logistics company Brambles has seen its revenue rise eight per cent in the nine months to March 31 and reaffirmed its full year profit guidance.

The company said in a statement that slower-than-expected growth in its pallets business during the March quarter resulted in it lowering its full year revenue guidance to eight per cent for the year (from a previous estimate of eight to nine per cent).

Brambles’ CEO Tom Gorman (pictured) said, “This first-half result reflects positive bottom-line leverage from sales revenue to Underlying Profit, despite the current cost challenges in North America.

“We remain on track to deliver our nearterm targets for the 2015 financial year while supporting our ongoing objectives to be a supply-chain partner of choice to our customers and deliver sustainable profitable growth for our shareholders.”

Gorman added that the company is continuing to assess several growth opportunities.

“At the same time, we are executing the early stages of our business improvement program, One Better and, as a result, we are on track to deliver efficiencies that will both free up funding for innovation and drive a reduction in our ratio of overheads to sales over time,” he said.

Image: Brambles