AAP Finance

Brambles more than doubles net profit

By AAP Newswire

Brambles has more than doubled its full-year profit to $US1.47 billion ($A2.17 billion) from $US692.7 million but warns slowing global economic growth could cap revenue gains in the future.

The pallets and containers company said sales revenue for the 12 months to June 30 increased by 3.0 per cent to $US4.59 billion as it maintained its final dividend unchanged at 14.5 cents, 30 per cent franked, and moves to a payout-based ratio dividend policy of 45-60 per cent of underlying profit after finance costs and tax in the next financial year.

"Brambles expects sales revenue growth to be at the lower end of its mid-single digit growth objective, taking into account the ongoing slowdown in global economies and the automative industry," the company said in a statement on Wednesday.