Brambles Industries
Brambles trading statement, disposal
The sale of Cleanaway UK was expected as Brambles focuses on its two remaining core businesses - Chep (pallet hire) and Recall (document storage).
The £595m for which Cleanaway UK was sold was good - it is 1.2× sales and 27× operating profit. It also means that Brambles’ disposals of non-core businesses is almost complete.
We expect […]
Brambles: H1 results
Brambles continued its strong growth but with the company downgrading its London listing to a secondary listing with a primary listing in Sydney, British investors need to be aware that they should expect the shares to become less liquid in London.
The performance of the business has been much as expected with both sales (+9%) and […]
Brambles restructuring
Brambles is proposing to dispose of businesses that generate almost half its sales and a nearly a third of its operating profit. The businesses Brambles is retaining are Chep (pallet hire) and Recall (document archiving and management). brambles also plans to switch from a dual listing on the London and Australian stock exchanges to a […]
Brambles: disposal and acquisition
Brambles has sold one of its waste disposal businesses, Cleanaway Germany for £387m. It has also bought an Australian document management businesss for £112m.
The acquisition has been at only a slightly higher valuation multiple than the sale, so the net effect on profits of the transactions will be fairly small - it should sightly lower […]
Brambles: full year results
Brambles has continued its strong cyclical growth with sales up 8% at CER for the year to June 2005 and Pre-exceptional EBITA up 20%. The main driver of both growth in both sales and profit was Chep, the pallet hire business which generates 45% of sales and 64% of operating profits.
Not only is Chep the […]
Brambles
Brambles’ sales increased 9% CER (+5% reported) and EBITDA increased 28% in 2004 largely driven by strong growth in its largest business, pallet hire (Chep), which generates 45% of sales and 65% of EBITDA. Chep’s EBITDA increased 48% more than offsetting a decline in profits at the next largest business, waste disposal, whose margins shrank, […]
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