Brambles Industries PLC
25 October 2005
Brambles 2005 Annual General Meetings
As Brambles indicated at the time of the 2005 full year results, we continue to
expect further good progress in profit and solid cash generation in the year
ahead. The company is performing well in the early part of the current financial
year. In the three months to the end of September, sales and profits are well
ahead of the comparative period in the prior year.
CHEP performed strongly in each region in the first three months of the year.
CHEP Americas sales were 10% higher than the prior comparative period and
profits continued to gain from on-going efficiency improvements.
In CHEP Europe, sales growth for the three months to September was 5%. Customer
conversions to the new pricing architecture have continued at a steady rate and
profits have benefited from continuing operational efficiencies.
CHEP in the rest of the world continues to trade well.
Overall, CHEP is expected to deliver good growth in all regions in 2006, driven
by continued sales growth and continuing benefits from operational improvements.
The divestment of Cleanaway Germany is expected to be completed early next year,
subject to approval from the relevant competition authorities in Europe.
Cleanaway UK is showing improvements in its Commercial and Industrial business
and is gaining from the restructuring which took place last year. For the full
year a marked improvement in performance is expected from the continuing
Cleanaway activities in the UK and Rest of World, with the first half being
particularly strong when compared with the prior comparative period.
In Recall for the first three months of the year, Europe continued to make solid
progress. North America saw slower sales growth and some impact on results from
higher fuel costs. Overall, sales and profits in Recall are expected to grow for
the full year.
In the three months to September, performance in Brambles Industrial Services
and Regional Businesses is ahead of the prior comparative period.
Overall, Brambles expects to make further good progress in profit in the year
ahead, with CHEP expected to continue to perform particularly well. Brambles
will continue to focus on creating value and maintain a disciplined approach to
the management of capital expenditure and working capital. Further solid cash
generation is expected for the full year.
For further information, contact:
Investor Sue Scholes, Head of Investor Relations +44 (0)20 7659 6012
Media Richard Mountain, Financial Dynamics +44 (0)20 7269 7291
Investor John Hobson, Head of Investor Relations +61 (0)2 9256 5216
+61 (0)414 239 188
Media Michael Sharp, Vice President Corporate +61 (0)2 9256 5255
Affairs +61 (0)439 470 145
Brambles is globally headquartered in Australia
This information is provided by RNS
The company news service from the London Stock Exchange