Brambles Ltd Statutory operating profit down in 1H 2017

Statutory operating profit down in 1H 2017: Brambles Ltd (ASX: BXB) stock fell over 9.89% on February 20, 2017 as BXB reported for a 26% fall in the 1H 2017 statutory operating profit at constant currency, due to the significant items of US$138.5 million. This included a US$120 million non-cash impairment of the group’s investment in the Hoover Ferguson Group (HFG) joint venture. Excluding the impact of the HFG impairment, the operating profit has increased 1%. Moreover, the sales revenue grew 5% at constant currency, due to the solid growth with new and existing customers in Pallets Europe and Pallets Latin America, continued expansion in RPCs and Containers, and modest growth in Pallets North America. The Underlying Profit grew 3% on a constant currency basis, due to the strong profit growth in both RPCs and Containers, with an impact of the profit decline in Pallets North America. The Pallets North America performance was impacted by the lower sales revenue growth and direct cost challenges. Additionally, BXB has revised the FY17 guidance at constant-currency. The sales revenue growth is expected to be in line with 1H17, the Underlying Profit is expected to be flat over FY16, and the FY17 growth capex is expected to be approximately US$350 million. The company has withdrawn the FY 19 targets.      

To read the complete report CLICK HERETo get your free report CLICK HERE


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation.Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product.The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in: BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
Copyright © 2015 Kalkine Pty Ltd ABN 34 154 808 312. No part of this website, or its content, may be reproduced in any form without the prior consent of Kalkine Pty Ltd.
Kalkine is a trading name of Kalkine Pty Ltd ABN 34 154 808 312, which holds Australian Financial Services Licence No. 425376.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s