ALS LIMITED — Earnings Release 2011

Jun 28, 2010

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asx/media release

29 June 2010

Campbell Bros First Half 2011 profit guidance

Campbell Brothers Limited (ASX Code: CPB) expects underlying net profit after tax for the half year ending 30 September 2010 will be within the range of $63 million to $68 million. This compares very favourably to the actual net profit after tax of $38 million for the half year to September 2009 and is also ahead of the record result of $57 million achieved in the half year to September 2008 prior to the global financial crisis.

The expected result reflects current strong trading conditions for the majority of the company’s operations, as well as a solid contribution from Ecowise and PearlStreet, acquired in the second half of last year.

The company has seen continued strong demand for its mineral, environmental and coal analytical services accompanied by improved margins. Sample flows into ALS’s global mineral laboratories have increased by in excess of 50 percent during the first 12 weeks of the financial year and expectations are that current activity levels will be maintained through until at least December of this year, before tapering off during the traditional off-season. The company expects the pricing pressure seen over the last twelve months to be maintained as both ALS and its competitors increase capacity as the industry ramps up.

The acquisition of Ecowise in November 2009 is adding strongly to the performance of the company’s Environmental operations and the global margin for the division is expected to increase by 200bps for the first half compared to the same period last year. The performance of the division’s Asian operations has been particularly strong. The company’s Australian Coal operations continue to benefit from increased demand, and activity levels in Africa are also showing signs of improvement following a significant slowdown in the latter half of the previous year. The newly formed Industrial Division (ex-PearlStreet, acquired December 2009) is performing in line with expectations, whilst the Tribology Division is slightly behind the previous year due to a softening in US markets for these services.

The Chemical Division is performing slightly ahead of the previous year, but Reward Distribution Group has struggled in the first two months of the financial year in a challenging business environment.

The company remains cautiously optimistic about the March 2011 second half, but is mindful that the northern hemisphere winter will see a significant slowdown in environmental sampling in that region and expects that we will see a traditional “off-season” in mineral exploration activity from January to March 2011.

ENDS:

For further information:

Greg Kilmister, Managing Director, Campbell Brothers Limited, +61 7 3367 7900

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