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Brambles Ltd (BXB) $15.12

Australian pallet maker BXB surged after it delivered a lift in net profit of 10% to $US703.3mn in the 12-months ending June 30, the business successfully delivered significant prices rises (pricing power) to offset the consumer spending slowdown – the company received over 55% of its revenue from the US in 2022. We believe BXB is very well positioned moving forward with underlying profit growth forecast to grow 9-12% in 2023/4.

  • We like BXB but are reticent to chase current strength around $15 even with its major revenue contribution in $US.
MM is cautiously bullish towards BXB around $15
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Brambles Ltd (BXB)
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