ASX Stocks to Watch Alesco Corporation (ALS)

ASX Stocks to Watch Alesco Corporation (ALS)|ASX ALS Shares NewsAlesco Corporation (ASX:ALS) is a marketer and distributor of industrial brands to niche markets in Australia and New Zealand.

ALS’s customers include businesses involved in building and renovations, mining and construction and water management.

On 26 July, ALS reported a FY11 net profit of $13.6 million, up from the prior year’s loss of $124.3 million.

Core EBIT rose 9% to $36.5 million, with the garage doors division (EBIT up 23%) driving the result.

However, revenue fell 3% amid a weak housing market and natural disasters in Queensland and New Zealand.

A final dividend of 7 cents was declared, plus a special dividend of 5.5 cents.

ALS warned that trading conditions are likely to remain tough in FY12 due to a forecast decline in consumer confidence and Australia’s housing market.

As such, it is questionable whether ALS can maintain its recent gains, therefore it will be one of the stocks to watch in coming months.

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