ALS reports strong first half, double-digit growth with improved safety

ALS Limited reported a strong H1 FY26 performance with underlying revenue of A$1.7 bn, a 13.3% increase driven by organic growth across Commodities and Life Sciences. Underlying EBIT rose by 14.7% to A$287.2 m, strengthening the margin to 17.3%, while underlying NPAT increased by 17.2% to A$178.4 m. The company achieved its lowest-ever recorded injury frequency rates, reinforcing its commitment to safety.

The company's balance sheet was strengthened by a reduced net debt position of A$1,150.6 m following a May 2025 equity raise. A fully franked interim dividend of A$0.19400000 per share (30% franked) was declared, representing a 2.6% increase from the previous period, with a payout ratio of 55% of underlying NPAT. The dividend is payable on 17 December 2025 to shareholders on record as of 27 November 2025, with a Dividend Reinvestment Plan (DRP) recommencing at a nil discount.

Strategic investments in hub lab expansion projects are on track, with A$67.7 m spent in H1 FY26 out of an expected A$230 m over five years. The company anticipates organic revenue growth of 6-8% for FY26 and is well-positioned to meet its FY27 targets of A$3.3 bn revenue and A$600 m EBIT, with an EBIT margin floor of 19%.