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Brambles expects profit increase in FY11

Brambles expects profit increase in FY11

Equipment pooling and information management services provider Brambles Limited (ASX:BXB) expects an improvement in both revenue and profit in FY11.

In a letter to shareholders, Brambles CEO Tom Gorman and chairman Graham Kraehe said the company expects this upswing “as economic growth returns in our key markets.”

Brambles posted a 1% decrease in FY10 profit to $448.8 million, despite a 3% increase in revenue to $4.15 billion.

Gorman and Kraehe said the company would pay out its $0.125 per share dividend on October 14, bringing the total dividend for FY10 to $0.25.

BXB shares are up 0.16% to $6.240.

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Tags BramblesASX:BXBGraham KraeheTom Gorman

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