BXB Brambles Limited

   By Ross Kelly 
 

SYDNEY--Australian logistics company Brambles Ltd. (BXB.AU) posted a 70% decline in first-half profit, brought down by the spin off its document-management business into a separate company known as Recall Holdings Ltd. (REC.AU).

Net profit for the six months through December fell to US$285.3 million from US$959.0 million a year earlier. Profit from continuing operations rose 6% to US$301.3 million after Brambles pushed up prices and won new customers in its wooden pallets business.

Brambles declared an interim dividend of 14 Australian cents (US$0.11) a share, up from 13.5 Australian cents in the year ago period.

Write to Ross Kelly at ross.kelly@wsj.com

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