Brambles lifts first-quarter sales

Group posts solid lift on previous corresponding quarter on back of new contract wins.

Brambles (BXB) has lifted the first-quarter sales performance of its pooling solutions operations on the back of several new contract wins and the acquisition of Pallecon at the end of last year.

In the three months to September 30, Brambles posted total sales revenue from its pooling solutions operations was $US1.312 billion, a 7% increase on the previous corresponding period.

Brambles chief executive officer Tom Gorman said the trading performance during the first quarter was broadly consistent with expectations.

"Despite continued muted levels of underlying sales growth in the consumer staples sector, we are benefitting from the execution of our growth strategy," he said.

Mr Gorman said the group remained on track to deliver its guidance for fiscal 2014, excluding the Recall business.

"We expect constant-currency sales revenue growth from all three pooling solutions segments and underlying profit, at June 30 2013 foreign exchange rates, of between $US930 million and $US965 million, he said.

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