Laboratory group Campbell Brothers’ expects the booming mining sector and recent acquisitions to fuel profit growth after another record earnings result.

The company on Monday posted a 68 per cent jump to $222.4 million for net profit for the year to March 31, from the previous corresponding period.

The record result continues the company’s run as a stock market darling over recent years.

All divisions of its ALS laboratory business posted record earnings, particularly the minerals division, which almost doubled its earnings to $215 million.

“The ALS minerals division delivered exceptional growth in financial performance during the year, processing a record number of samples in an environment of increasing global mineral exploration activity,” managing director Greg Kilmister said in a statement.

Recent acquisitions and the restructure of ALS into four key areas of minerals, environmental, energy and industrial, would benefit the company, he said.

“Capacity increases, the introduction of new technology, and the continued refurbishment of existing facilities will contribute to further strong organic growth through the year,” Mr Kilmister said.

The result was impressive on face value but Campbell Brothers’ heavy exposure to the mining sector warrants some caution, Morningstar analyst Nathan Zaia said.

“Revenue from this division can fall sharply if lower demand hurts commodity prices, making new projects questionable, or as seen during the GFC (global financial crisis), funding dries up,” he said.

“We prefer to note the caution rather than just assume these strong earnings growth numbers can continue for ever.”

Campbell Brothers declared a final dividend of $1.30 per security, franked to 50 per cent, taking full year dividends to $2.25, similarly franked.

Despite the positive net profit result, its shares were down 60 cents to $56.70 at Monday’s close of trade.