Australia's ALS declines as strong fiscal 2023 fails to impress investors

ALS

29/05/2023 05:26

** Australian testing services provider ALS Ltd  ALQ.AX 
falls as much as 5.2% to A$11.620, their worst intraday drop
since March 7
    ** Shares decline despite a strong fiscal 2023 performance,
with net profit attributable jumping 53% to A$291.2 mln ($197.52
mln), and revenue up 14.7% to A$2.40 bln
    ** Says strong performance mainly due to acquisitions made
in Life Sciences division during the fiscal
    ** ALQ at its lowest since March 28; third-biggest loser in
the ASX 200 benchmark index  .AXJO 
    ** ALQ up 0.25% this year, as of last close, compared with a
1.65% increase in the ASX 200 benchmark index

($1 = 1.4743 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))