SYDNEY, Feb 20 (Reuters) - Australian pallets and container group Brambles Ltd on Monday posted a 3 percent rise in first-half underlying profit after facing increased competition in its large North American business.
The company reported an underlying profit of $468.9 million for the six months ended Dec. 31, which, adjusted for currency changes, was in line with its latest guidance for a 3 percent rise in underlying profit on a constant-currency basis. On a statutory basis, profit after tax fell 44 percent to $162.3 million.
Brambles on Monday revised its full-year underlying profit guidance to be flat with the prior year, well below the range of 9 to 11 percent offered before a surprise downgrade on Jan. 23.
News: BXB Australia's Brambles 1H underlying profit rises 3 pct as competition increases
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