By Ross Kelly
SYDNEY--Wooden pallets supplier Brambles Ltd. (BXB.AU) on
Thursday said first-quarter revenue rose 3% from a year earlier as
customer growth helped offset sluggish economic conditions,
particularly in Europe.
The Australian company, which also supplies re-useable plastic
containers to the fresh-produce industry, said revenue in the three
months to Sept.30 rose to US$1.43 billion, led by 10% growth in the
Americas and 6% growth in the Asia-Pacific region.
Strong growth in those places was offset by a 3% revenue decline
in Europe and 4% slide in the company's Recall document-management
business.
Currency fluctuations had a negative impact on revenue overall,
Brambles said in the quarterly update, adding that in constant
currency terms group revenue jumped 8%, and only declined at
Recall.
Brambles kept its guidance for the year to June 30 of underlying
profit, in constant currency terms, of between US$1.01 billion and
US$1.07 billion.
Write to Ross Kelly at ross.kelly@wsj.com
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