Brambles Limited (ASX: BXB) - Brambles’ share price runs up on FY18 results

  • Aug 24, 2018 AEST
  • Team Kalkine
Brambles Limited (ASX: BXB) - Brambles’ share price runs up on FY18 results

Brambles Limited posted strong profit growth in the financial year ended 30 June 2018. Sales revenue rose 6% at constant currency to US$5.59 billion, reflecting strong volume growth during FY18.

Statutory profit increased 293% to US$747.1 million which includes $127.9 million non-cash tax benefits resulting from US tax rate change. However, underlying profit was in line with previous year at constant currency because of cost control and higher asset compensations offsetting higher profit headwinds during the year. There has been HFG JV loan repayment of US$150.0 million which in turn has strengthened the cash flow from operations during FY18.

Final Dividend of 14.5 cents was declared, franked 30%, which is payable on 11 October 2018. This was in line with dividend declared last year.

Supply-chain logistics, Brambles Limited also announced its intention of separating its IFCO RPC business on 24 August 2018.

BXB share price zoomed up to $10.600, observing a daily price change of +6.43% on 24 August 2018.

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