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Investing.com-- Shares of Brambles Ltd (ASX:BXB) jumped to a record high on Thursday after the logistics firm posted stronger annual earnings and announced a fresh share buyback.
The company reported underlying profit of $1.37 billion for the year ended June 30, up 10% at constant exchange rates, driven by improved asset efficiency and productivity savings.
Group sales revenue rose 3% to $6.67 billion, Brambles said in a filing.
Sydney-listed shares of the company jumped over 11% to A$25.86, their highest level ever.
The board declared a final dividend of 20.83 cents per share, taking the full-year payout up 17% to 39.83 cents.
It also unveiled plans for an on-market share buyback of up to $400 million in fiscal 2026, following a similar program completed in the past year.
Looking ahead, Brambles forecasts sales growth of 3-5% and underlying profit growth of 8-11% at constant exchange rates in FY26.