Brambles Limited (ASX:BXB) has posted first quarter sales revenue of $1.39 billion, a 3 per cent increase on the corresponding period last year.
The pallet manufacturer says it is on track to achieve its full year guidance after the revenue lift, which is a reflection of continued new business growth.
CEO Tom Gorman says new business wins and pricing growth in the first quarter were however insufficient to fully offset the impact of lower paper prices and reduced business activity.
The company remains committed to delivering an underlying profit figure of between $US1 million and $US1.1 million in the current financial year.
Brambles achieved a full year net profit of $565.5 million in the 2012 financial year.
BXB Price at posting:
$7.15 Sentiment: None Disclosure: Held
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