Australia's ALS hits 1-month high on profit forecast hike

ALS

01/03/2022 02:09

** Shares of testing services provider ALS Ltd  ALQ.AX  rise
as much as 6.2% to A$12.560, their highest since Feb. 1
    ** Co upgrades https://www.asx.com.au/asxpdf/20220301/pdf/456kyksd2g66sx.pdf
 FY22 underlying net profit after tax (NPAT) forecast to between
A$260 mln ($188.81 mln) and A$265 mln from between A$115 mln and
A$125 mln
    ** Says geochemistry is experiencing strong sample volume
growth and volumes of life sciences division remain above
pre-pandemic levels
    ** Stock to mark best session since Feb. 1 if gains hold; up
for a third straight session
    ** As of last close, ALQ stock down ~9.6% this year

($1 = 1.3770 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))