News: Pricing pressures hit ALS H1 profit forecast

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ALS Limited (ASX:ALQ) has cut its first half profit forecast and warned its result will be impacted by pricing pressures across all business divisions.  

The laboratory analysis group expects to report an interim underlying net profit after tax of about $64 million. 

The figure is $10 million down from guidance and 36 per cent down from last year’s result of more than $100 million. 

ALS has noted tight market conditions in all sectors and says it remains focused on cost management and right-sizing the businesses for the current market. The company says it is positioned strongly for future growth as its markets recover. 

Interim results are expected to be released on November 24, 2014. 

ALS reported a net profit of $157 million in the full 2014 financial year.