Brambles Limited announced its half yearly result; underlying profit increased by 25%

On 24 February 2023, Brambles Limited (ASX: BXB) announced its half yearly results which reported that:

• The underlying profit increased by 25%, including a benefit from deferred plant and transport costs due to lower pallet return rates and from one-off insurance proceeds.
• The underlying profit increased by 16%, as pricing and surcharge income more than offset cost-to-serve increases and overhead investments to support growth and transformation initiatives.
• The return on capital invested was 19.8%, an increase of 1.2 points at constant currency, as strong underlying profit more than offset the impact of increased capital investment in higher cost pallets to support customers.
• Cash flow from operations decreased by US$42.0 million, largely due to the increase in cash capital expenditure reflecting the timing of payments for pallet purchases.
• The FY23 interim dividend of 12.25 US cents is an increase of 14% on the interim dividend in the previous year (1HFY22: 10.75 US cents) and signifies a payout ratio of 49%, aligned with its dividend policy.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com