Brambles Industries PLC
19 June 2002
SEMINARS FOR ANALYSTS/INVESTORS AND TRADING UPDATE
We are arranging a series of presentations for analysts and institutional
investors, together with visits to some of our operations in the US and the UK
in the period from 20 June to 25 June. In this context we are making a general
update on current trading. We confirm that, as indicated at the time of the
announcement of our interim results in late February this year, we expect our
continuing businesses to progress in the second half of the current financial
year when compared with the same period a year ago.
Revenue growth at CHEP, Cleanaway and Recall has continued.
In CHEP, the management initiatives to enhance operational performance in
North America have begun to yield results. The depot reconfiguration
programme is proceeding as planned, transport costs are falling and the channel
pricing programme has now been implemented. Asset productivity in North
America is improving following action to achieve a significantly higher level of
pallet recoveries from the Non-Participating Distributors. The new Wal-Mart
contract, signed in March, is also contributing a better performance for CHEP.
In Europe, CHEP's performance improvement is slower than North America, although
asset utilisation is increasing as a result of greater collection activity. The
continuing penetration of the Italian and German pallet markets remains a
primary focus of revenue growth. The implementation of the CHEP IT project is
proceeding as expected and will benefit the business in the future.
Overall in CHEP, performance in the US and Europe has stabilised in the last 5
months and is anticipated to pick up in 2002/03.
Cleanaway UK has continued to make good progress and as expected, trading in
Germany has stabilised with paper prices less volatile.
Recall is continuing to perform strongly.
Brambles Industrial Services has improved further in the second half although
some regional businesses are still impacted by market slowness.
The Group overall is continuing to perform in line with our expectations in late
February this year.
19 June 2002
For further information, contact:
Media Richard Mountain, Financial Dynamics +44 (0) 20 7831 3113
Investor and Other Sue Scholes, Head of Investor Relations +44 (0) 20 7659 6012
All Enquiries Edna Carew
Group Manager Communications +61 2 9256 5204
The Brambles Industries Group is globally headquartered in Sydney Australia
Slides from the presentations to analysts and investors will be made available
on our website www.brambles.com at the start of each day.
This information is provided by RNS
The company news service from the London Stock Exchange