Pandemic Pantry Stocking Preserves Strong Pallet Demand in First Half of Fiscal 2021 for Brambles

Strong volume momentum persisted into Brambles’ first half of fiscal 2021, reflecting the ongoing increase in at-home consumption of fast-moving consumer goods and consumer staple categories amid the coronavirus pandemic and market share gains in central Europe for the Europe, Middle East, and Africa segment. With pallet demand in early fiscal 2021 tracking ahead of our full-year expectations for Brambles’ global franchise, we increase our full-year 2021 EBIT estimate by 3% to USD 851 million. The upgrade to our fiscal 2021 EBIT estimate implies 7% year-on-year growth and sits at the top end of Brambles’ upwardly revised fiscal 2021 EBIT guidance of 5% to 7% growth.