expects h1 ebita down 15 to 20pc

Sydney - Tuesday - September 16: (RWE Aust Business News) -
Alesco (ASX:ALS) chairman Sean Wareing said volatile and uncertain
market conditions had made it difficult to predict with any accuracy the
FY09 earnings outcome.
"Market conditions remain extremely challenging and the softening
of demand that we saw in the latter period of FY08 has continued in the
first quarter of FY09," he said.
"Based on an anticipated continuation of the softness experienced
in the first quarter, we expect that the trading EBITA for the first half
ending 30 November is likely to be down from the prior corresponding
period in the range of 15pc to 20pc.
"This is likely to result in earnings per share before
amortisation and significant items being down from the prior
corresponding period by 30pc-35pc, reflecting higher interest costs
driven by the tougher credit markets, an anticipated increase in our
effective tax rate and the dilutionary full period impact of 2007's
capital raising.
"We are, however, expecting an improved result in the second half
of FY09 as a result of aggressive cost reductions and the specific
operational initiatives being undertaken across the businesses. However,
without a significant improvement in the trading environment, Alesco will
be unable to match FY08's trading EBITA result for the full year."
He said higher input costs and fuel prices are continuing to be
incurred, with freight costs approximately $6 million higher on an annual
basis than a year ago.
In addition, the New Zealand businesses are feeling the full
impact of an economic recession.