Pallet-maker Brambles sees profits lift
23/08/2006 - 07:59:32The world’s biggest supplier of pallets increased underlying profits by 29% today as it prepared for the £595m (€878m) sale of a major UK business.
Anglo-Australian company Brambles described trading at its CHEP pallets business as “very strong”, while the 12 months to the end of June also saw a strong improvement for its UK-based Cleanaway waste management arm.
Brambles announced the sale of the UK rubbish collection operation in June after striking a deal with the French owner of rival Onyx.
The sale of the division is one of a number of disposals by Brambles, although the UK arm still featured in today’s annual results, which showed operating profits of $771.3m (€602.3m), against $599.8m (€468m) a year earlier.
