Alesco Corporation Ltd
(ASX:ALS) says it expects to post a loss of around $126 million for fiscal 2010 and will not pay a final dividend.
The company says the anticipated loss is a result of a $133 million writedown on its Water Products and Services division.
Chairman Mark Luby also noted the weaker than expected performance of the company’s Functional & Decorative Products division.
CEO Peter Boyd says Alesco faces a number of challenges with the focus on improving operational performance across each of the company’s businesses.
Mr Boyd says his immediate priority will be Functional & Decorative Products and Water Products & Services divisions.
Alesco is to release its 2010 financial year results on July 28. Alesco Corp reported a loss for the year to May 30, 2009.
