Brambles Profit Falls after Spin-Off
February 22 2015 - 4:11PM
Dow Jones News
By Ross Kelly
SYDNEY--Australian logistics company Brambles Ltd. (BXB.AU)
posted a 70% decline in first-half profit, brought down by the spin
off its document-management business into a separate company known
as Recall Holdings Ltd. (REC.AU).
Net profit for the six months through December fell to US$285.3
million from US$959.0 million a year earlier. Profit from
continuing operations rose 6% to US$301.3 million after Brambles
pushed up prices and won new customers in its wooden pallets
business.
Brambles declared an interim dividend of 14 Australian cents
(US$0.11) a share, up from 13.5 Australian cents in the year ago
period.
Write to Ross Kelly at ross.kelly@wsj.com
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