SYDNEY--Brambles Ltd. (BXB.AU), the world's biggest maker of
pallets used to transport everything from food to autos, said
Wednesday its annual profit doubled to US$1.27 billion.
Earnings were largely boosted by the spin off in December of the
company's document management business, but were also helped by
improving economic conditions in major markets such as the U.S. The
document management business, known as Recall Holdings Ltd.
(REC.AU) is also listed on the Australian Securities Exchange.
Underlying profit, which the company says better reflects its
operating performance, rose 5% to US$960 million, at the top end of
the company's guidance range of between US$930 million and US$965
million.
"We delivered a solid performance in the 2014 financial year as
underlying economic conditions continued to improve gradually," Tom
Gorman, Brambles" chief executive, said in a statement.
The company forecast underlying profit in the current financial
year to rise to between US$1.03 billion and US$1.06 billion,
assuming foreign exchange rates remain steady.
Write to Ross Kelly at ross.kelly@wsj.com
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