.
Brambles Limited (ASX:BXB) will demerge its information management business Recall, into a separate company listed on the ASX, after scrapping plans last year to sell the subsidiary.
The group says it still expects to meet its full-year guidance for underlying profit of between $1.1 billion and $1.15 billion.
Chairman Graham Kraehe says the restructure will deliver sustainable value creation opportunities for shareholders.
Brambles and Recall each have a dedicated leadership team and strategic focus on maximising value from the specific opportunities available to them.
The new Recall Holdings will be headed by Doug Pertz, who continues his position as chief executive officer.
Brambles generated a net profit of $291.3 million in the first half of fiscal 2013.
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$25.44 |
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Mkt cap ! $34.77B | |||
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