Australian Shares to Watch Share Market
Alesco Corporation (ALS) is an Australian-based building and construction products distributor, and recent troubles has resulted in it becoming one the key Australian shares to sell among investors.
ALS recently reported a FY10 net loss of $124.3 million, which includes write-downs totalling $136.7 million.
Earnings per share slumped almost 50% to 24.8 cents, and as previously indicated by ALS, no final dividend was declared.
ALS maintained a cautious outlook despite positive lead indicators in housing activity, and expects to resume dividend payments commencing this financial year.
The profit result was largely expected by the share market. ALS will be one of the stocks to watch over the next few months.