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Company Information

Company at a Glance

Industry:
Trading Companies & Distributors
Fiscal Year-End:
n/a NaN

Company Overview

Alesco Corporation Limited (ALS, formerly Atkins Carlyle Ltd) is a wholesale distribution company with leading positions in niche markets operating in the following business units: Functional and Decorative Products, Construction & Mining, Water Products and Services and Garage Doors and Openers.

Company History

ALS had its origins in Charles Atkins & Co (general merchant importers) that opened in Fremantle in 1896. It was incorporated in WA in October 1911 as Atkins (WA) Ltd. The company merged with Carlyle Holdings in 1971 and was renamed Atkins Carlyle (AKC). A number of acquisitions were made over the 1980-90s. Following the sale of its Industrial Consumables division in March 2001, AKC became Alesco Corp.

Industries Of Operation

Construction and Mining: services and distributes earthmoving and heavy duty tyres and distributes a range of concrete industry products. Functional and Decorative Products: distributes laminates and cabinet hardware. Garage Doors and Openers: manufactures and markets garage doors and openers in Australia and New Zealand. Water Products and Services: provides water management products and services in Australia.

Differentiating Factor

ALS has established itself as an astute buyer and seller of businesses, with the ability to extract better performance. Delivering on management's strategy of acquiring businesses with leading brands, strong market share, diverse customer and supplier bases in niche markets. A notable exception being the disappointing performance of Total Eden McCracken's. Brands distributed by ALS include B&D Garage Doors and Openers, Robinhood, Lincoln Sentry, Marathon Tyres, Parbury and Parchem.

Major Customers & Competitors

Building & Renovations is heavily skewed to the home renovations market segment. Construction & Mining has reduced exposure to larger clients such as big mining companies due to the low margins derived. ALS competes against a wide range of companies across its business units.

Research provided by  

Market Statistics

Market Cap ($M):
245.8
Equiv. Shares (M):
94.2
% All Ords:
0.02
12Mth Range ($):
2.25 - 5.91
Turnover ($M pa):
360.1
Index:
S&P/ASX 200
Sector:
Industrials
Industry Group:
Capital Goods
Industry:
Trading Companies & Distributors
Sub Industry:
Trading Companies & Distributors

Last 5 Market Sensitive Announcements

Date
Announcment
28-Jul-10 10:14
Preliminary final report for the year ended 31 May 2010
18-Jun-10 08:52
FY10 Preliminary Unaudited Results Update
03-May-10 10:05
New Chief Executive Appointed
09-Mar-10 17:36
Update on FY10 Full Year Outlook
28-Jan-10 08:50
Half Year Accounts

Calendar Of Events

Date
Event
28-Jul-10
Reporting Date for Final Year Result
05-Mar-10
Dividend Date Payable for Half Yearly Result (7c 100% franked)
12-Feb-10
Dividend Record Date for Half Yearly Result (7c 100% franked)
08-Feb-10
Dividend Ex-Dividend Date for Half Yearly Result (7c 100% franked)
28-Jan-10
Reporting Date for Half Yearly Result

Directors

Name
Position
Mr J Ryan
Managing Director
N Thompson
Director
J W Hall
Non-Executive Director
R Aitken
Non-Executive Director
E Pope
Non-Executive Director
M B Luby
Deputy Chairman
B McKinnon
Non-executive and independent director
S Wareing
Chairman

Management

Name
Position
Mr J Ryan
Managing Director
N Thompson
Finance Director

Substantial Shareholders

Name
% Holding

No substantial shareholders have been notified to the ASX.

Consensus Recommendation Summary


0
0
6
1
2
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 9

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) 26.8 32.2
EPS Growth (%)   20.5
P/E Ratio (x) 9.8 8.1
P/E Rel. All Ords (x) 0.87 n/a
P/E Rel. Sector (x) 0.97 n/a
Number of Brokers in Earnings Survey: 6 7

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  10A 10A 10A    
CSR Limited 13.1 6.3 5.1 2,605.7 1.72 Out Perf.
Steamships Trading n/a n/a n/a 682.2 22.00 none
Alesco 10.7 (21.9) 2.6 245.8 2.61 Out Perf.
Alesco 10.7 (21.9) 2.6 245.8 2.61 Out Perf.
Alesco n/a n/a n/a 245.8 2.61 Out Perf.
Alesco n/a n/a n/a 245.8 2.61 Out Perf.
HGL Limited n/a n/a n/a 63.0 1.15 none
Lemarne Corp n/a n/a n/a 38.7 4.50 none

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