Brambles Raises Fiscal Year Guidance on Higher Prices, Improved Supply
April 19 2023 - 6:17PM
Dow Jones News
By Stuart Condie
SYDNEY--Brambles Ltd. raised its annual revenue and profit
guidance on the back of higher prices and improved pallet
availability.
The Australia-listed pallet supplier, which reports in U.S.
dollars, on Thursday reported group sales revenue for the nine
months through March of $4.48 billion, up 9% on a year earlier. The
increase was 15% once currency moves were stripped out.
Brambles said that pallet availability had improved in its
fiscal third quarter following a long period of tight supply, which
had enabled it to recommence the pursuit of new business in the
U.S. and Europe.
It now expects sales revenue to grow by a constant-currency
14%-15% across the whole of fiscal 2023, compared with previous
guidance of 12%-14%. It expects underlying profit to rise by
17%-19%, also on a constant-currency basis. It previously flagged a
15%-18% increase.
Brambles also expects positive full-year free cashflow after
dividends, having previously flagged a net outflow.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
April 19, 2023 19:02 ET (23:02 GMT)
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