Brambles Ltd. (BXB.AX, BMBLF.PK), a pooling solutions company, reported that its profit attributable to members of the parent entity for the year ended 30 June 2024 increased to US$779.9 million or 55.8 US cents per share from US$713.2 million or 51.2 US cents per share in the prior year.
At constant FX, profit after tax from continuing operations were US$779.9 million, an increase of 17% as the strong operating profit performance offset net finance and tax cost increases and a US$8.4 million non-cash net hyperinflation charge relating to the impact of inflation on both the monetary net assets and the P&L of Brambles' operations in Türkiye, Argentina and Zimbabwe.
At constant FX, Sales revenue from continuing operations were US$6.55 billion, up 7% due to price realization to recover the cost-to-serve which included a 3-percentage point contribution from the current year and a 4-percentage point rollover contribution from the prior year.
The company said it is lifting the future dividend payout ratio range to 50-70% and it is undertaking an on-market share buy-back in fiscal year 2025 of up to US$500 million.
The Board has declared a 2024 final dividend of 19.00 US cents per share, bringing total ordinary dividends for 2024 to 34.00 US cents per share representing an increase of 30% on the prior year.
Looking ahead for the year ended 30 June 2025, the company expects underlying profit growth to be between 8-11% at constant currency; sales revenue growth of between 4-6% at constant currency.
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