Shares in Brambles Ltd., the world's biggest supplier of pallets used to move and store goods, fell the most in four months as European sales growth stalled.

European sales for CHEP, Brambles' biggest unit, grew at ``slightly less than 2 percent'' in the 11 months to May, the Sydney-based company said in a statement today. Sales for the business grew at 2 percent in fiscal 2006.

Brambles won't make any further share buy-backs as it seeks shareholder approval in November to purchase as much as 10 percent of stock. It spent about A$1.9 billion ($1.6 billion) on an equivalent share purchase since Dec. 4.

``CHEP Europe's failure to accelerate sales growth is a concern,'' Goldman Sachs JBWere analyst Paul Ryan said in a note to clients today. ``Combined with a six-month hiatus in buyback activity, the announcement will likely disappoint the market.''

Brambles shares fell 32 cents, or 2.5 percent, to A$12.31 at 11:42 a.m. in Sydney, giving the company a market value of A$17.7 billion. The stock has declined 4.1 percent this year.

The company owns 280 million reusable pallets and containers, which it rents to 300,000 companies, including General Motors Corp. and Procter & Gamble Co. The pallets, which cost about $16 each to make, are wooden platforms used to move goods on forklifts.