By Stuart Condie
SYDNEY--Brambles Ltd. reported a 3.5% rise in full-year operating profit, helped by unprecedented grocery supply chain demand for its CHEP pallets early in the coronavirus pandemic.
The Australia-listed company on Wednesday reported an operating profit of $767.0 million for the 12 months to June, compared with $740.9 million a year earlier. Net profit fell to $448.0 million from $1.47 billion a year ago, when the bottom line was lifted by a $945.7 million gain on asset sales.
Sales revenue increased 3.0% to $4.73 billion, helped by buying in the early stages of the pandemic and new contract wins.
Market consensus was for net profit of $510 million off $4.76 billion in revenue, according to data compiled by FactSet.
Directors of the company declared a final dividend of 9.0 U.S. cents a share.
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