Brambles Limited (ASX: $BXB) FY24 Third Quarter Trading Update

Brambles Limited (ASX: $BXB) has reported a 7% sales revenue growth from continuing operations for the first nine months of the financial year ending 30 June 2024 (FY24). The company's full year guidance has been reconfirmed amidst this performance.

Executive Commentary on FY24 Third Quarter Performance

Commenting on the third-quarter performance, Brambles' CEO, Graham Chipchase said, 'Revenue growth was in line with expectations for the first nine months of FY24 as the rate of price growth continues to moderate in line with changes in our cost-to-serve and as we cycle higher prior-year pricing comparatives. Our year-to-date performance has given us the confidence to reconfirm our full-year guidance for revenue growth, strong operating leverage, and another year of improved free cash flow generation.'

Summary of FY24 Third Quarter Trading Update and Outlook

Brambles Limited (ASX: $BXB) has reported a 7% sales revenue growth in the first nine months of FY24, with a reconfirmation of full year guidance. The company anticipates sales revenue growth of between 6-8% at constant currency for FY24, along with underlying profit growth of 13-15% at constant currency. Brambles also expects positive free cash flow before dividends of between US$700-800 million, with a dividend payout ratio consistent with the policy of 45-60% of Underlying Profit after finance costs and tax in US dollar terms. The financial outcomes are subject to prevailing macroeconomic conditions, customer demand, and other factors including movements in FX rates.