One Stock that surged up and one that ended flat on ASX – ALS Ltd and Sirtex Medical Ltd

Positive Performance for FY17: ALS Ltd (ASX: ALQ) stock rose over 4.2% on May 29, 2017. ALQ has recently reported for a 4% growth in the underlying net profit after tax from continuing operations to $112.7 million during fiscal year of 2017. For the second half, the group reported an underlying result of $53.1 million (excluding non-laboratory operations of Oil & Gas), which is within the guidance range of $50 to $60 million. The revenue from continuing operations grew 2.7% to $1,272 million. Moreover, ALQ has planned to divest the majority of its assets in the Oil & Gas technical services sector. Simmons & Company International, energy specialists of Piper Jaffray, are currently assessing a number of offers to acquire the business. But the company has an intention to retain the laboratory services component. The Oil & Gas businesses being divested have incurred underlying losses of $14.5 million during the year, whilst the Oil & Gas laboratories not being divested delivered an underlying operational loss of $6.3 million. On the other hand, ALQ will be rolling out its new five-year strategic plan in FY 18 under the stewardship of Raj Naran in his new role of Managing Director and CEO.   

 

 

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