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Brambles revenue down 3% on low US sales

Brambles revenue down 3% on low US sales

Equipment supplier Brambles (ASX:BXB) said its revenue for the first four months of the financial year fell 3% to $1.5 billion, due to lower than expected sales at its US pallet supply business.

Subsidiary CHEP USA posted 5% lower revenue of US$513 million ($551 million), as a result of the weak US economy. CHEP USA now expects to post 3% lower revenue for the full year.

CHEP EMEA’s revenue also declined, but by a more modest 1% to US$515 million, while the APAC unit grew its revenue 2% to $126 million.

Chairman Graham Kraehe said the company had yet to witness a widespread pickup in economic activity in any of its major markets.

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