Brambles 4-Months To Oct 31 Sale Down 3% To US$1.40 Billion
MELBOURNE -(Dow Jones)- Brambles Ltd. (BXB.AU), the world's largest transport
pallet provider, said Thursday its sales for the four months ended Oct. 31 fell
3% from a year earlier to US$1.40 billion on lower volumes.
Brambles Chairman Graham Kraehe said that the company's CHEP and Recall units
were in strong positions to benefit from improvement in economic conditions.
"However, we are yet to witness a widespread pickup in activity or restocking
in our major markets," he told Brambles' annual investor meeting.
Kraehe said both the CHEP and Recall businesses were performing "solidly" and
continued to generate new business in all regions, with the exception of CHEP's
Americas unit, whose sales were below expectations in the four-month period.
Chief Executive Tom Gorman said CHEP's sales fell 3% to US$1.15 billion,
mostly reflecting its Americas unit's revenue decline of 5% to US$513 million
because of lower volumes as a result of the U.S. economic downturn.
-By Andrew Harrison, Dow Jones Newswires; 61-3-9292-2095; andrew.harrison@
dowjones.com
(END) Dow Jones Newswires
11-18-092211ET
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