(Reuters) – Logistics firm Brambles Ltd raised its annual earnings outlook on Friday, as product price hikes more than make up for inflationary cost pressures, sending its shares surging 8%.
Sydney-based Brambles, which owns and rents crates and pallets globally to consumer goods companies, now expects its underlying profit to jump between 15% and 18% on a constant currency basis, up from a prior estimate of 8%-11% growth.
(Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu Sahu)