ALS (ASX:ALQ) completes divestment, upgrades guidance

ALS (ASX:ALQ) has successfully completed the divestment of its Asset Care business to SRG Global (ASX:SRG) for $80M.

The Brisbane-based testing and certification company says it's a critical milestone in the company's portfolio realignment strategy.

The proceeds have been incorporated into ALS Limited's capital management framework, strengthening its balance sheet and reallocating capital to higher-growth opportunities.

As a result, ALS has upgraded its FY23 Underlying net profit after tax guidance range to between $312 and $322M, up from the previous $300 to $320M.