Brambles Sees Jump in Profit

Brambles Industries Ltd. said first-half profit climbed 71 percent on increased sales from its CHEP businesses. The company said it expects profit growth to slow in the second half.

Net income surged to $186 million in the six months ended Dec. 31. The company also reported that sales increased by 8.5 percent.

Sales at Brambles' Cleanaway waste-management division rose 6 percent.

The company’s Recall document storage business increased sales 9 percent. The unit made several small acquisitions for secure document destruction businesses in North America and buying out its partner in a joint venture in Denmark.

Recall is expected to deliver increased sales and profit in the full year and the second-half performance of Cleanaway is expected to be better than the first-half, Turner said.

While last year the company considered the possibility of selling off part of its Recall division, published reports note that advisors are now telling the company to keep all its assets. Instead, the company has begun looking for acquisitions in many of its divisions.