Business Services Industry
AUSTRALIA'S BRAMBLES EXPECTED TO BENEFIT FROM DEMISE OF KMART.
AsiaPulse News, January, 2002
SYDNEY, Jan 23 Asia Pulse - Brambles Industries Ltd (ASX:BIL) is expected to benefit from the demise of US retailing group Kmart, but analysts still expect a disappointing first half result from the industrial services giant.
Brambles' core pallets business CHEP holds major supply contracts with US retail giant Wal-Mart, which is expected to get a boost after rival Kmart today filed for Chapter 11 bankruptcy protection in the US.
The boost to CHEP was not expected to flow through to Brambles' bottom line this financial year, but analysts said it would help in the long run.
Brambles shares have been under renewed pressure since broking firm Credit Suisse First Boston joined Macquarie Equities and ABN Amro in dropping earnings forecasts for the...
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