As expected Brisbane-based testing services group Campbell Brothers Ltd has produced a cracker of a full year result, and a very tasty final dividend.

Earnings jumped 75.7 % for the full year net profit and Campbell says it expects further growth in its business in the current year.

The company posted a net profit of $132.35 million for the 12 months to March 31, up from $75.3 million in 2009-10 and double the interim of $66.25 million (which itself was up 73%).

The latest profit was a record, topping the $106 million earned in the 2008-09 financial year.

It matched the recent profit update from the company, so no surprises there.

The result was struck on a 34.3% jump in revenue to $1.1 billion as higher returns from a couple of significant acquisitions started kicking in and the company's various testing businesses rode the resources boom.

Dividend for the full year was boosted 40c, or 40%, to a total of $1.40 with a final of 75c a share, up 20%. The interim was also hoisted 20c to 65c. The payout is 50% franked.

And the company's managing director Greg Kilmister said in the statement to the ASX that the company's strategy is expected to realise further potential in fiscal 2011-12.

"Acquisitions finalised in the second half of 2010/11, including Ammtec in Australia and Analytical Laboratory Services Inc in the US, are expected to make significant contributions in the year ahead, as will the ALS Industrial division, which reported its first full year result in 2010/11," Mr Kilmister said in the statement.

And yet, the result failed to impress investors. The shares eased 1.4% or 66c to $44.94, after hitting a day's low of $44.65.

The result came despite the strength of the Australian dollar on the company's rapidly growing offshore earnings, especially from the US where it is expanding quickly in water and other environmental testing.

"We have successfully advanced our business strategy and expanded our analytical laboratory division, ALS, to capitalise on some significant opportunities, including the upturn in global mineral exploration activity," Mr Kilmister said.

"Our investments in strategic acquisitions and increased operational capacity have established a platform from which the group has launched a significant increase in business volumes.

"In particular, the recovery in global mineral exploration activity lifted demand for the analytical testing services provided by ALS Minerals division."

"ALS Group, which has five business divisions, experienced strong increases in revenues, profits and margins, with ALS Minerals and ALS Environmental divisions achieving the strongest growth," the company said.

"In its first full year of trading, ALS Industrial established itself as ALS's third largest division in terms of revenue.

"Campbell Chemicals' revenue eased following the December 2010 divestment of its Cleantec business, while the Reward Distribution business lifted revenue for the year but experienced difficult trading conditions."

ALS made the largest contribution to group revenue of any division after achieving a 63% increase in revenue.

Earnings before interest and tax jumped 109% to $111 million in the key division in ALS, the minerals business.

The environmental part of ALS saw earnings rise 51% to $66.19 million on a 25% rise in revenue to $308 million.

The only business not to do well was the ALS Tribology which specialises in analysing oils and lubricants, especially in the US.

Profit fell 14% to just over $14 million on a 1.7% rise in revenue to around $30 million.

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