Recall's full-year profit slips

By Dow Jones newswires

On a constant currency basis, those earnings rose 3. 7 per cent. A 6. 7 per cent increase in revenue was underpinned by strong performances at the company's document management and data protection units, and aided by acquisitions including Recall Singapore.

The earnings result was broadly in line with the company's guidance provided in February that revenue growth would approach the mid single-digits, while underlying earnings growth on a constant currency basis would be lower than revenue growth.

Recall, the document management company spun out of Brambles in December, posted a small fall in annual profit because of foreign exchange losses and lower earnings at a document destruction unit.

The company forecast revenue growth in the current financial year "approaching the high single digits", with the rate of operating earnings growth again to be lower than for revenue.

Read more here: Business Spectator


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