ALQ +1.95%: technical testing company ALS presented FY22 numbers to the market today, coming in slightly ahead of expectations. Revenue grew 24% to $2.2b, and EBIT was up 36% for the year to $409m, around 2% ahead of consensus. The commodities segment saw EBIT growth of over 40% thanks to a strong tailwind of volumes and price increases. Life Sciences also saw solid growth, organic EBIT growth of 29% plus an additional $11m contribution from recently acquired businesses. The report brings to an end a 5 year strategic plan with each of the targets met or exceeded. They didn’t provide any FY23 guidance but did say the business has continued to perform solidly since the end of the period, with more to come at the AGM in August.
MM is mildly bullish ALQ
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