re: Ann: Acquisition of Reservoir and $246 Mi...
"ALS also confirmed investor fears that it too has been hit hard by the slowdown in resource-sector spending, flagging a six months to September net profit of $95-105 million, down 26 per cent."
LOL... hit hard? They confirmed it at the start of this year... if you hadn't noticed, 2H13 was 20% lower than 1H13 and about 10% below 2H12. Given that 1H14 is stable compared to 2H13, it looks to business flow has stabilized. You may have also noticed, the company has already cut headcount by 20% since early 2012 in the minerals division when the cycle was at its peak. They've already acted to the slowdown without fuss. Unlike most, who have taken a wait and see approach, and then holy s, we're sinking fast, we gotta do something mentality.
Onwards and upwards from my perspective.
ALQ Price at posting:
$9.28 Sentiment: Buy Disclosure: Held
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