ALS reports net profit lift

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Analytical testing services group ALS has lifted full year net profit as the company’s entry into new markets helped offset some weakness in the mining sector.

ALS, known as Campbell Brothers until a name change in 2012, posted net profit of $227.3 million in the 12 months to March 31, up 2.2 per cent from the prior year.

Revenue rose 6.7 per cent to $1.5 billion, ALS said in a statement on Monday.

ALS chairman Nerolie Withnall said the profit result was achieved in challenging market conditions and reflected the company’s pursuit of new markets.

“In more recent years the focus for the company’s growth and diversification has been into new testing markets; including industrial testing, food and pharmaceuticals, as well as geographical growth of our environmental businesses,” Ms Whitnall said.

“To some extent this has reduced our exposure to the cyclical downturn in the minerals sector.”

ALS declared a fifty per cent franked final dividend of 27 cents per share.

At 1532 AEST, ALS was up 30 cents, or 3.43 per cent, at $9.04 on the day the broader market was down about half a per cent.