Aussie Stock News Brambles (BXB)

6 May 2010

Brambles Ltd (BXB) is a provider of supply chain and information management solutions, of which it operates through two businesses, CHEP and Recall.

In Aussie stock news today, BXB reported its 3Q results, including a 1% sales gain on the prior year in constant currency terms.

BXB’s US CHEP division showed signs of continued struggle, with sales growth and margin improvement looking lacklustre.

On the upside, CHEP sales for the last nine months to March showed some improvement over 1H10 declines.

Also, BXB’s Recall division grew organic sales and new contracts helped turnaround a 1% fall in 1H sales to 1% growth over the nine month period.

BXB forecasts FY sales revenue to be broadly in line with that of FY09 in constant currency terms.

The group expects CHEP to see a 3% fall in pallet issue volumes this year.

BXB Australian share price last closed down at $7.13 a share after witnessing choppy action since early March.