Half Year 2019 Brambles Ltd Earnings Call Transcript
Good morning, everyone, and thank you for joining us today for our 2019 half year results announcement.
I would like to start with a few key messages about the results. We delivered strong sales revenue growth of 7%, in line with our objective for mid-single-digit growth. This performance reflected strong volume growth and improved price realization in both developed and emerging markets.
Our underlying profit was up 1%, which is in line with the guidance we provided as part of our first quarter trading update. Underpinning this performance was the strong growth in sales revenue driven by strong volume and price realization, which offset the combination of global input cost inflationary pressures and continued cost challenges in the CHEP Americas segment.
At our 2018 Investor Day, we outlined a number of initiatives to restore margins in our U.S. pallets business. These initiatives included the accelerated automation program, the lumber procurement program and a
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