Brambles Ltd (BXB.AX: Quote, Profile, Research, Stock Buzz), the world's biggest pallet supplier, said on Tuesday that sales rose 13 percent in the 11 months to the end of May.

Brambles said in a trading update that it had also signed new contracts worth $180 million in annualised sales in the first 11 months and that it faced no major refinancing before 2010.

Brambles sales also rose 13 percent in the first 10 months to May 2, underpinned by strong demand for U.S. grocery products. But its shares fell sharply in April after it said U.S. retailer Wal-Mart Stores Inc (WMT.N:Quote, Profile, Research, Stock Buzz) was reviewing its use of pallets. The shares are down 35 percent in 2008, more than double the drop in the benchmark S&P/ASX 200 index . ($1=A$1.05) (Reporting by Denny Thomas, editing by Mark Bendeich) ((denny.thomas@reuters.com; +61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net))