(Reuters) -Australian logistics firm Brambles unveiled a $400 million share buyback programme and increased its dividend payout after reporting a 15% jump in full-year net profit on Thursday, sending its shares soaring to a record high.
The world’s largest pallet pooling company logged $896 million in profit attributable for the year ended June 30, up from $779.9 million a year earlier, as its “transformation programme” delivered improved margins.
Shares of the company rose as much as 11.3% to a record A$25.86, making them one of the top 10 gainers on the benchmark S&P/ASX 200 index, which was trading 1.1% higher.
Brambles declared a final dividend of 20.83 cents per share, up from 19 cents paid last year. It also announced a $400 million share buyback programme for the new financial year.
Brambles forecast 8%-11% growth in underlying profit for fiscal 2026, broadly in line with Visible Alpha consensus estimates of 9% rise, according to Citi analysts.
“Looking forward, the consumer environment appears to be impacting revenue guide, however better operating leverage than usual is driving an inline/modestly ahead underlying profit,” Citi said in a research note.
(Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Subhranshu Sahu)
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