Brambles: Result 2013

This logistics business generates oodles of cash, says Gaurav Sodhi, but it spends most of it maintaining its pool of pallets.

Brambles’ full-year results were overshadowed by news it would divest its document storage business, Recall, removing all evidence of a once sprawling empire. The business is now solely focused on logistics – moving goods on pallets, containers and crates. Brambles is often regarded as a barometer of the global economy: the more goods sold, the more goods it moves. If that’s true, the world economy appears to be chugging along fine.

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