Tag: BXB

Shares in Brambles topped the $12 mark for the first time in more than two years yesterday after it reported solid trading figures for the March quarter.

Brambles shareholders will get a substantial part of the proceeds of the multi-billion dollar sale of its reusable plastic container business to an Abu Dhabi wealth fund for over $US2.51 billion.

Investors staged a gentle sell down in shares of global logistics company Brambles after it reported a 27% fall in first-half profit, but a one percent rise in the underlying result.

Brambles shares rose 2.4% yesterday yesterday to $9.90 at the close, as the market took on board the investor day briefing held late last week.

Brambles shares reacted positively to logistics and pallet hire group maintaining interim dividend at 14.5 cents a share yesterday.

Brambles enjoyed a rare (these days) day in the sun with a 3% plus gain after the company revealed a surprise 6% jump in first quarter sales at yesterday’s annual meeting.

New CEO, old story at Brambles with news of a sharp fall in full year profit (not forgetting that the downgrade in January and then confirmed at the February interim figures release) for the year to June.

In late January, Brambles shares fell by as much as 16% after it revealed a weak trading update and profit warning. That was a month before the actual half year result was released. The shares fell from $12.28 to $10.58 in a day.

Brambles (BXB) has blamed high levels of competition with a US rival pallet company called PECO for the downgrade in its annual earnings forecast yesterday which saw the shares slump 11% at one stage.

Shares in Brambles (BXB) took a hit yesterday after the company revealed a surprise downgrade to full year earnings after a weak six months to December 31.

Brambles CEO, Tom Gorman announced his retirement yesterday after reporting another solid result for the country’s logistics multinational.

Global logistics giant Brambles (BXB) has joined the growing list of local companies to be caught by the rise in the value of the US dollar in the past year – QBE will be another with its final profit announcement this morning – with a 2% dip in revenue to $US2.8 billion and a 2% rise in net profit for the six months to December.

Shares in logistics group Brambles (BXB) fell yesterday, despite the wider rebound on the ASX and in spite of what should have been positive news.

International logistics and pallets group, Brambles (BXB) was another company to leave a less than positive impression on investors yesterday with its 2014-15 results.

Brambles (BXB) shares dipped nearly 3% in yesterday’s generally stronger market, despite providing a solid trading update for the March quarter and first nine months of the 2014-15 financial year.

And while Woolies was surprising on the downside, logistics giant Brambles (BXB) was revealing more pleasant news for its shareholders on the upside with an upgrade to its earnings guidance for 2014-15.

In something of a surprise to investors, global logistics giant Brambles (BXB) has moved into the oil and gas servicing sector – just as the industry is being shaken by cost-cutting, narrowing profit margins and weak prices.

A day after we had Stockland (SGP) and Australand (ALZ) and possibly Wotif (WTF) emerge as possible takeover situations, Brambles (BXB), the big logistics group, emerged in a situation in Singapore that got hearts a’fluttering on a day when the wider market was decidedly weak.

The demerger of Recall from Brambles (BXB) is almost complete – and shareholders in Brambles also received a small bit of good news as well yesterday.

Ahead of next Monday’s AGM in Sydney, Brambles (BXB) told the market yesterday that sales revenue from its pallet pooling-solutions operations rose 7% to $US1.312 billion in the first quarter due in part to its acquisition of container company Pallecon late last year.

Timing is everything.

Even though Brambles Ltd lifted sales and earnings in the 6 month to December 31, and is paying a slightly higher interim dividend, the market couldn’t make its mind up about the worth of the result.

The media stories Monday morning suggested that Brambles had been hit by the loss of a major customer in the US, leading some to think it was the huge Wal-Mart deal with its Chep pallet business.

Shareholders in Brambles will have to wait a bit longer for any improvement in dividend income from the company.