Pallet and container provider Brambles expects the US dollar to maintain its strength after a firmer greenback held back its half year profit growth.
The company still expects full year underlying profit to rise by up to 13 per cent, but chief executive Tom Gorman said a rising US dollar was proving detrimental to its Australian revenue.
"That has had a material impact in the half," he said.
"The US dollar is going to stay relatively strong through the second half."
Brambles' net profit from continuing operations of $US286 million in the six months to December 31 was up two per cent from the same period a year ago.
The profit would have been six per cent higher without foreign exchange movements.
Underlying profit in the half rose six per cent to $US485 million, and Brambles reaffirmed its full year guidance of an underlying profit between $US1.055 billion and $US1.085 billion, up from $US960 million in 2013/14.
In September, the company acquired the Ferguson Group, which provides container solutions in the oil and gas sector.
Mr Gorman said he was not concerned about falling oil prices.
"We made the acquisition for the next decade, not the next quarter," he said.
"Clearly, there's going to be some volatility around oil prices."
Brambles shares closed two cents lower at $10.70.
BRAMBLES PROFIT STACKING UP
* Net profit of $US286.1m, up two pct from $US280.4m
* Sales revenue of $US2.8b, up five pct from $US2.7b
* Interim dividend of 14 cents, up from 13.5 cents
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