Brambles Ltd. (BXB.AX,BMBLF.PK), a pooling solutions company, reported that its profit after tax for the full-year ended 30 June 2022 was US$593.3 million, an increase 18% at constant currency. It included the fiscal year 2022 profit from discontinued operations of US$21.6 million as improved market conditions resulted in a revaluation gain on the loan receivable from First Reserve associated with the formation of the Hoover Ferguson Group Joint Venture.
Underlying profit and operating profit was US$930.0 million, an increase of 10% at constant currency driven by increased pricing and surcharge income, supply chain efficiencies and higher asset compensations. Excluding the short-term transformation costs, underlying profit increased 16% at constant currency.
The company reported annual sales revenue from continuing operations of US$5.56 billion, an increase of 9% at constant currency, reflecting strong price growth of 9% driven by contractual price increases, indexation and additional pricing actions taken to recover input-cost inflation and cost-to-serve increases across all regions.
The Board has declared a 2022 final dividend of 12.0 US cents per share, bringing total ordinary dividends for 2022 to 22.75 US cents per share representing an increase of 11% on the prior year.
The 2022 final dividend declared of 17.25 Australian cents per share. The 2022 final dividend is payable on 13 October 2022 to shareholders on Brambles' register on 8 September 2022.
At constant FX rates, Brambles expects sales revenue growth between 7% and 10% for fiscal year 2023. Annual underlying profit growth is expected to be between 8% and 11%.
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