Testing services group Campbell Brothers (ASX:CPB) has reported a 75.6% increase in net profit for the year ended in March, on record revenue of $1.1 billion.
The company, which provides lab testing services, chemicals and cleaning agents, earned revenue of $825.3 million in FY10.
Managing director Greg Kilmister attributed the growth to the company's investments in strategic acquisitions and increased operational capacity.
These investments “established a platform from which the Group has launched a significant increase in business volumes,” he said.
The ALS Minerals unit recorded the largest revenue growth at 63.2%, and also made the largest contribution of any of the company's subsidiaries.
Barring the Campbell Chemicals division, where revenue fell 14.1%, each unit grew its revenue contribution from FY10.
In a market update, the company said it expects acquisitions completed in the second half of that year to begin making significant contributions in the year ahead.
CPB shares fell 1.45% on Tuesday to $44.490.