ALS Limited (ASX: ALQ) – Stock hikes with FY18 profit growth of 21.1%

ALS Limited

Cambell Brother’s ALS Limited (ASX: ALQ) released their results of 2018 Annual General Meeting on Wednesday. The company reported their FY18 earnings of $0.28 per share which shows the growth of 21.9% on the $0.23 per share earnings of previous year.

Company’s profit moved up by 21.1% to $142.2 million for the year ended 31st March 2018, in comparison with the last year’s profit of $117.4 million. This increase in Net Profit After Tax largely reflects the recovery of commodity cycle and expansion in Life Sciences and Industrial operations.

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The Group’s leverage ratio was 1.7 times Net Debt over underlying EBITDA at year end, slightly down from 1.9 times last year. In an effort of improving EPS and dividend performance, company utilises $107 million to buyback excess of 15 million shares.

Total dividend of $0.17 per share, along with final dividend payment of $0.09, franked to 40 percent, has been paid in line with the dividend payout policy of 60 per cent of Net Profit After Tax.

Merger and Acquisition strategies remained unchanged, and ALS has decided to divest its Oil & Gas business and sell it off for $109 million as recently agreed upon with Chicago-based private equity firm Madison Industries.

ALQ stock surged up by 11.33% in last five days and was trading at $8.67, as at August 03, 2018 by mid-day.

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