Brambles Ltd., the world's biggest supplier of pallets used to move and store goods, said first-half profit increased 19 percent as it won new contracts and customers in Europe and North America. The shares surged.

Operating profit rose to $500.5 million in the six months ended Dec. 31, from $421.2 million a year earlier, the Sydney-based company said today in a statement. Sales climbed to $2.11 billion from $1.87 billion.

Brambles is winning customers such as PepsiCo Inc. in Canada and Woolworths Ltd., Australia's biggest retailer, boosting earnings at its CHEP pallet unit, which accounts for more than four-fifths of sales. Chief Executive Officer Mike Ihlein plans to invest $750 million over three years to win $600 million in new annual sales in Germany, central and eastern Europe, China and India.

``We will not capture them all overnight, but we are well- positioned to achieve our objective of delivering sustainable, double-digit revenue growth over the medium- to long-term,'' Ihlein said.

Brambles shares rose 43 cents, or 4.6 percent, to A$9.75 at the close on the Australia Stock Exchange, the biggest gain in a month. The company will pay an interim dividend of 17 Australian cents, it said in the statement.

Brambles won more than 1,000 new contracts in Europe during the half, spurring operating profit in the region 27 percent higher to $168.1 million. Profit in the U.S. advanced 18 percent to $225.1 million.

CHEP, which counts General Motors Corp. and Procter & Gamble Co. as customers, owns 280 million reusable pallets and containers, which it rents to 300,000 companies.

The pallets, which cost about $16 each to make, are wooden platforms used to move goods on forklifts.