Shares in ALS have slumped to their lowest level in more than four years after the laboratory services group issued its second profit warning in two months.
ALS fears its underlying first half profit will drop to $64 million, far worse than the $74 million it flagged in July and the $100 million it made a year ago.
It blamed much of the fall on a dive in revenue from its minerals division following the downturn in mining exploration work around the world.
The company's shares dived $1.20, or more than 17 per cent, to $5.77, their lowest level since mid-2010.
ALS' previous profit forecast of around $74 million was based on an expected improvement in conditions during the September quarter.
"Whilst activity levels improved for a number of our operations during the quarter, it remains difficult to predict trends in the demand for ALS services and pricing pressure is being experienced by all our business division," ALS said in a statement on Monday.
"This has resulted in the traditionally expected improvement in earnings during the northern summer being less than expected."
The company said revenue from its minerals division would be down around 25 per cent for the half, due to the slide in mining exploration work.
Revenue from its energy division would be almost double what it was a year ago.
But the division's operating profit would be lower because of low volumes and reduced prices in the company's coal business, as well as structural changes in its oil and gas division.
Revenue from ALS' life sciences division is expected to be flat, while the environmental services division has been hit by sliding prices.
But revenue and operating margins from the industrial division are expected to be higher.
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