Brambles Lifts Fiscal Year Guidance After Raising North American Prices

   By Stuart Condie

SYDNEY--Brambles Ltd. upgraded its annual sales and profit guidance after North American price increases helped the pallet supplier lift revenue for the first nine months of its fiscal year by 7.2%.

The Australia-listed company on Thursday said that it had generated continuing operations revenue for the nine months through March of $4.07 billion, compared with $3.79 billion for the same period a year earlier. Revenue in North America jumped by 11% and accounted for more than half total revenue.

Brambles said it now expects full-year sales revenue to rise by 8-9%, on a constant currency basis. It sees underlying profit growing by 6-7%, and by 11-12% once $50 million of short-term transformation costs have been stripped out.

It previously guided for 3-5% underlying profit growth off a 6-8% increase in revenue.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

April 20, 2022 18:56 ET (22:56 GMT)

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