Wide-Moat Brambles Remains Undervalued Following Strong 1Q
Wide-moat Brambles reported a solid fiscal first-quarter result at its annual general meeting, with revenue growing 8% versus the previous corresponding period, or 6% in constant currency, despite continued competitive pressures. This strong start to fiscal 2018 places Brambles in good stead to achieve our full-year expectation of 5% growth through their core pooling businesses. Management reiterated their commitment to focusing on these core businesses, and we retain our fair value estimate of ...Brambles is a supply-chain logistics company operating primarily through the CHEP and IFCO brands. Co. has three segments: Pallets segment, which primarily serves the consumer goods, fresh produce and beverage industries, and sub-divided into three regions: Americas, Europe, Middle East and Africa, and Asia-Pacific; Reusable Plastic or Produce Crates segment, which serves the fresh produce and food industry and comprising the IFCO RPC pooling business worldwide and the CHEP RPC pooling businesses in Australia, New Zealand and South Africa; and Containers segment, which comprises four business units: Automotive, Intermediate Bulk Containers, Oil and Gas, and Aerospace.
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