Industrial products and services company Alesco Corporation Ltd
(ASX:ALS) says profit for the first half declined around 23% to $9.71 million.
This compares to $12.65 million recorded for the same time a year ago.
Revenue fell to $410.2 million from $478.2 million for the same period the year before, but was up on the $377.9 million recorded in the second half of fiscal 2009.
The company says it’s second half financial performance will continue to be influenced by the timing and pace of the recovery in the new housing and renovations markets and the impact of government stimulus into the broader construction markets.
Alesco says that while the company saw signs of this market recovery in December, it remains cautious as trading in January has been softer than expected.
Alesco declared an interim dividend of 7 cents a share. Alesco posted a loss for the year to May 30, 2009.
