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General Information

ALS Limited
ALQ
http://www.alsglobal.com
Research & Consulting Services
2,492
407

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$6.12 $6.04 $6.15 $5.75 $6.04 5457494 $0.08 ( 1.32% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Hold
26/05/2015
3

Company Overview

Business Description
ALS Limited (ALQ) is a global provider of testing and analytical laboratory services with global headquarters based in Brisbane, Australia. The Company operates four main testing service divisions namely Minerals, Life Sciences, Energy and Industrial across Africa, Asia, Australia, Europe and the Americas and a hospitality supplies business operating in Australia.
Strategy Analysis
ALS will focus its attention on the Laboratory Services division where it has shown competitive advantage and a proven business model. Geographical expansion for ALS Laboratory Group is achieved through further acquisitions, opening of new laboratories and capacity expansions in Europe, Asia and North America, also diversifying into new analytical services market. This division will continue to be the key profit contributor. Reward Distribution is expected to see gains in sales post consolidation of its national distribution operations and rationalisation of warehouses. ALS reported NPAT up 32.5% to $135.5m for the half-year ended 30 September 2012. Revenues from ordinary activities were $813.6m, up 21.9% from the same period last year. All testing and inspection services divisions recorded strong increases in revenues and profit contributions compared with the pcp. In particular, significant growth in demand for services in ALS Energy, ALS Life Sciences and ALS Minerals saw these divisions post revenue gains of 28% or more for the half. Basic and Diluted EPS was 37.4 cents compared to 29.5 cents last year. Net operating cash flow was $107.3m compared to $83.0m last year. The interim dividend declared was 21.0 cents compared with 19.0 cents last year.

Financial Summary

Year to Mar NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2017 F 133.3 33.1 2.9% 18.5 21.0 3.4% 25.0%
2016 F 129.5 32.1 -3.7% 19.0 20.0 3.3% 20.0%
2015 A 134.5 33.4 -21.8% 19.6 21.0 3.2% 17.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2015 A 2016 F 2017 F 2015 A 2016 F 2017 F 2015 A 2016 F 2017 F
ALS (ALQ) $2,460M -0.3177 0.0557 0.1852 19.5469 18.5162 15.6234 3.48% 3.97% 3.64%
IPH (IPH) $762M 0.0000 0.0000 0.1626 0.0000 26.6926 22.9594 0.00% 2.39% 3.66%
SAI Global (SAI) $942M -0.0562 0.1892 0.0904 20.8920 17.5681 16.1115 3.48% 3.74% 4.32%
Veda Group (VED) $1,946M 0.0000 0.3210 0.1415 32.9529 24.9460 21.8543 1.73% 2.60% 3.03%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 1.10 19.60 2.05 1.66
Market 1.02 17.20 1.32 1.56
Sector 1.04 13.80 1.48 0.90

Directors

Name Position Start Date
Mr Gregory Francis Kilmister Chief Executive Officer, Managing Director 01/09/2005
Dr John Francis Mulcahy Non-Executive Director 01/02/2012
Mr Bruce Robert Brown Non-Executive Director 01/10/2005
Mr Charlie Sartain Non-Executive Director 01/02/2015
Mr Raymond (Ray) Gordon Hill Non-Executive Director 28/10/2003
Dr Melvyn John Bridges Non-Executive Director 29/09/2009
Mr Grant Murdoch Non-Executive Director 01/09/2011
Mrs Nerolie Phyllis Withnall Non-Executive Director, Non-Executive Chairman 13/12/1994

Management

Name Position
Richard Stephens Chief Financial Officer
Mike Munro Chief Information Officer
Timothy (Tim) Mullen Company Secretary
Michael Burcham Group Compliance and Risk Manager
Greg Affleck Group Financial Controller
Paul McPhee Group General Manager, ALS Energy
Kristen Walsh Group General Manager, ALS Industrial
Raj Naran Group General Manager, ALS Life Sciences
Brian Williams Group General Manager, ALS Minerals
Andrew Ross Group General Manager, Reward Distribution
Susan Putters Group Organisational Development Manager

Substantial Shareholders

Holding Name
23,818,080 (6.04%) BlackRock Group
21,107,979 (5.35%) M&G Investment Funds

Calendar of Events

Date Event
26 May 2016 Report (Prelim)
27 November 2015 Report (Interim)
23 November 2015 Report (Interim)
26 June 2015 Report (Annual)
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