ALS records profit increase after commodities market improves

Company News

by Kathy Skantzos

Testing service provider ALS (ASX:ALQ) has recorded an 18 per cent increase in net profit after tax to $70 million for the first half of the year to September compared to the same time last year.

The result was due to improvements in the performance of businesses servicing the mineral commodities markets.

The company’s half year statutory result was a net loss after tax due to equity holders of $9 million, compared to a net profit of $49 million last year.

Revenue from continuing operations was up 15 per cent to $722 million compared to the same time last year, reflecting growth in the commodities market.

The group divested its oil and gas technical services in July this year and has retained only its laboratory testing component.

Shares in ALS (ASX:ALQ) closed 1.24 per cent to $8.15.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.