re: earnings growth on track Sydney - Wednesday - October 26:...

re: earnings growth on track Sydney - Wednesday - October 26: (RWE Aust Business News) -

Brambles Industries Ltd (ASX:BIL) is making "good" progress in the current year, chairman Don Argus said.

Addressing the annual general meeting he said:

"Brambles expects to make further good progress in profit in the year ahead, with CHEP expected to continue to perform particularly well.

"Brambles will continue to focus on creating value and maintain a disciplined approach to the management of capital expenditure and working capital.

"Further solid cash generation is expected for the full year."

Chief executive David Turner told the meeting the company's strategy was to continually assess the portfolio of businesses based on where shareholder value can be created in the long term and where there
are appropriate opportunities for growth.

"The acquisition of AUSDOC is a good example of this strategy," he said.

"It is a high quality information management business with a leading position in its markets.

"Recall is the number one player in the Australian market, with AUSDOC number two.

"Recall operates in more than 200 locations in 23 countries on five continents.

"Its integrated services manage physical and digital documents through their entire life cycle - from creation, indexation and organisation, secure retention and retrieval to secure destruction.

"AUSDOC operates in all major regions in Australia, as well as selected markets in Canada.

"It has a very small operation in Indonesia.

"The company provides services such as document indexing, storage and retrieval for its customers.

"We expect the acquisition to be earnings positive before amortisation in the first full year and to contribute to Brambles Value Added after the first two years."