Brambles Limited (ASX: BXB) has revised its annual forecast upwards following the announcement of a 9% year-on-year growth in sales revenue, totaling AU$4,481.8 million, for the first nine months of FY23 at actual FX rates. EMEA regions. However, the US business saw a reduction in like-for-like volumes of 6%, partly due to a softening of consumer demand, as well as pallet availability challenges and progressive inventory optimisation at manufacturers and retailers in Q3.
Brambles has managed to hold onto its core clientele and explore avenues for expansion, despite the challenges. According to CEO Graham Chipchase, this achievement is a result of the company's unwavering commitment to maintain pricing discipline to cover the rising cost of service, and a testament to the resilient nature of its diversified operations, with sales volumes remaining largely stable compared to the previous year.
For FY23, the company now expects its sales revenue growth of between 14-15% at constant currency compared to previous guidance of 12-14% and underlying profit growth of between 17-19% compared to previous guidance of 15-18%.
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