Brambles Reaffirms Fiscal Year Forecasts Amid Surging Demand, Customer Wins
By Stuart Condie
SYDNEY--Brambles Ltd. reaffirmed its fiscal 2021 revenue and
profit forecasts after high demand in North America and new
customer wins in Europe helped the pallet supplier lift sales
revenue by 8.0% across the first nine months of the financial
The Australia-listed firm, which reports its financial results
in U.S. dollars, on Thursday said continuing-operations sales
revenue for July 1-March 31 was $3.79 billion, compared with $3.51
billion for the same period in fiscal 2020.
Its CHEP Americas unit lifted revenue by 6.0% to $1.91 billion
on record demand from existing customers and inventory stockpiling
in the U.S.
Inventory stockpiling due to the Covid pandemic and Brexit added
to new customer wins in Central and Eastern Europe to help lift
CHEP Europe, Middle East and Africa sales revenue by 9.0% to $1.50
billion. CHEP Asia-Pacific sales revenue rose 18% to $383.3
Brambles said it expects pallet demand to ease in the fourth
quarter and continued to anticipate full-year sales revenue growth
of between 4.0% and 6.0%, when stripping out the effect of currency
It sees underlying profit growth of between 5.0% and 7.0% and a
dividend payout ratio between 45% and 60%.
It said will continue its share buyback through fiscal 2021.
Write to Stuart Condie at firstname.lastname@example.org
(END) Dow Jones Newswires
April 21, 2021 19:18 ET (23:18 GMT)
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