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Orlando, FL— Brambles, a major pallet supplier, saw its earnings begin to recover as the global economy begins its recovery.

Overall, Brambles reported a 33 percent fall in net profit, but still exceeded market expectations. The global logistics firm lost its CHEP wooden pallet pooling business contract with branches of PepsiCo this year, but snared new customers like Nestle, offsetting a slump in pallet use across North America and Europe.

Brambles Chief Executive Mike Ihlein said that the net new wins offset declines in organic volumes that reflected worsening global economic conditions in the last nine months of the financial year.

Its CHEP Asia Pacific sales revenue was US$323.4 million, up 3 percent and achieved in spite of ongoing difficult economic conditions. Brambles said the result reflects the continued investment growth initiatives such as China and India.

Read the full story at SupplyChains.com.

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