By Stuart CondieSYDNEY--Brambles lifted its final dividend and flagged a further rise in underlying profit for the year ahead after price rises drove an increase in annual earnings. The Australia-listed pallet supplier on Wednesday reported an underlying profit for the 12 months through June of US$1.07 billion, up 19% once currency moves are stripped out. Brambles reported a net profit of US$703.3 billion on a statutory basis, up 24% on-year at constant FX rates. The average analyst forecast had been for a statutory net profit of US$660 million off revenue of US$6.17 billion, according to data compiled by FactSet. Brambles expects underlying profit to rise by 9-12% in its 2024 fiscal year, which began on July 1.

Source: Wall Street Journal August 29, 2023 22:57 UTC