Logistics and pallets group Brambles has reaffirmed its full-year profit guidance in speeches lodged ahead of its annual meeting to be held later today. Chairman John Mullen stated the company is reconfirming its full-year guidance of underlying profit growth of between 8 and 11 per cent for 2025-26 on a constant currency basis. Brambles operates a pool of 348 million pallets, crates and containers worldwide, facilitating the efficient and sustainable movement of goods through the supply chain. The company previously outlined that forecast in August at its full-year results.
In a shift of its reporting practices, Brambles is scrapping quarterly reporting. Ahead of the meeting, proxy voting results released to the ASX regarding three new director appointments revealed strong support for Vik Bansal and Tony Palmer. Bansal, who is stepping down as chief executive of building products group Boral next year, received 93 per cent of proxy votes in favour. Palmer garnered even stronger support, with 99.4 per cent of proxy votes in his favour.
However, Maxine Brenner, who currently serves on the boards of Telstra and Woolworths, faced comparatively more opposition in the proxy voting. While still securing a majority, Brenner received 78.4 per cent of proxy votes in favour, with 21.3 per cent of votes against her appointment. The annual meeting is expected to address these board changes and further elaborate on the company’s strategic direction.