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Article: AUSTRALIAN CO ALESCO FIRST QUARTER PROFITS WEAKER THAN IN PREVIOUS YEAR.(Financial report)
- Article from:
- AsiaPulse News
- Article date:
- September 23, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Sept 23 Asia Pulse - Australian manufacturer Alesco Corporation Ltd (ASX:ALS) says its first quarter financial performance is below the previous corresponding period but has forecast annual earnings to improve in some of its businesses.
Alesco makes and supplies products such as garage doors, kitchen sinks, concreting tools and water tanks.
In July, it reported a net loss of $A12.8 million (US$11.18 million) for the year to May 31, down from $58 million in fiscal 2008.
The Sydney-based company booked a $70 million writedown on its water products division and $21 million in restructure costs.
In a speech to shareholders at the ...