20 WESTERN PALLET
Sales growth continues, flat results due to the strength of reporting currency,
the U.S. dollar
Brambles Limited has reported revenue of $4.03 billion for the nine months to the end of March 2016. Due to the strength of the the U.S. currency, sales growth outside of the country did not translate into overall revenue growth.
On a constant-currency basis, sales revenue was up 8 percent, primarily reflecting the same trends that drove the first-half result: new business wins, sales mix improvements and like-for-like volume growth in Pallets globally; and expansion with new and existing retailers in the European Reusable Plastic Crates (RPCs) business.
The Group continues to expect constant-currency growth in sales revenue and underlying profit for the financial year ending 30 June 2016 to be between 8 percent and 10 percent, translating to an Underlying Profit range of $1.02 billion to $1.04 billion.
“As we stated at the first-half result in February, Brambles is in strong shape despite continued uncertainty in macro-economic conditions, because of the strength of our value proposition to customers and the disciplined execution of our long-term growth strategy,” stated Brambles’ CEO Tom Gorman. By segment, Brambles’ sales revenue for the nine months ended March was:
Brambles Achieves Constant Currency Sales Growth of 8% in 3Q