Newsletter #389 (View other news stories)
Pallet supplier upbeat despite downturn
Sydney, New South Wales, Australia
Thursday, 4 Dec 2008
 Brambles achieved good sales revenue during the first four months of the 2009 financial year. |
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Pallet supplier Brambles expects to see growth in all regions of its CHEP and Recall divisions in the 2009 financial year, provided there is no further deterioration in market conditions.
At the company’s AGM held recently, chairman Graham Kraehe said the operating environment had been challenging due to the rapid deterioration of the world’s leading economies, and may remain so through 2009 and possibly beyond, particularly in the USA and Europe.
Comparable operating profit for the Brambles Group is expected to be broadly in line with last year. Although operating profit for CHEP Americas is expected to be around 10% below last year, due to the slowdown in the USA and the previously announced investment in quality and Walmart transition costs, this is expected to be offset in constant currency terms by the performances of the rest of the business.
Brambles achieved good sales revenue during the first four months of the 2009 financial year with 4% growth for the Group on a like-for-like basis. CHEP Americas was up 4%, CHEP Europe, Middle East and Africa up 4%, CHEP Asia-Pacific up 3% and Recall up 6%.
"We remain focused on positioning the business to exploit profitable growth opportunities, while maintaining a prudent financial position in times of very tough credit market conditions," Kraehe added.
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