ALS CEO and managing director Malcolm Deane said the company delivered industry leading organic growth and margin expansion despite difficult trading conditions.
"Our geochemistry business was able to effectively utilise installed capacity, manage cost and pricing while delivering an increased value proposition for mining clients," he said.
"We will further develop and leverage the strong culture of innovation and collaboration to shape our portfolio with sustainability as its focus."
All businesses in ALS' commodities division contributed to the growth.
ALS' commodities division grew revenue to $1 billion, a 22/6% increase, supported by strong organic growth of 18%, scope growth of 3.4%, and a 1.3% favourable currency impact.
Underlying earnings before interest and tax increased 29.3% to $330 million with an expansion of margins by 155 basis points to 30.4% as a result of strong operational performances across both the geochemistry and metallurgy businesses.
The geochemistry business was able to effectively manage capacity through the period with good price discipline and an increase in the uptake of premium analytical services.
The recent acquisition of Goldspot Technologies, which continues the company's journey of innovation, is resulting in increased interest in consulting activities from mining clients.
"The geochemistry business is the largest provider of analytical services to the global mining industry and has demonstrated its ability to grow both market share and capacity over the years," the company said.
"The business has maintained the largest market share in the industry due to its superior execution, testing capabilities, geographical footprint and available capacity."
ALS expects the future profitability of its geochemistry business to be supported by a continued level of base metal demand required for clean energy transition and increased level of demand for premium analytical services.
It also believes it has an agile cost base and capacity planning tools, which should help its strategic shift into more downstream activities including new innovation and data analytics.
The metallurgy business grew organic revenue by 28.3% driven by the strong mining sector activity in energy and battery related metals, with support by strong commodity prices from traditional revenue sources. The pipeline of projects remains high.
The Inspection business posted an organic revenue improvement of 11.5% due to strong global commodity trading activities.
"Despite global economic pressures and the continued impact of COVID-19 disruption in Asia, the business managed costs well," the company said.
"It remains focused on global growth of commodity inspection and testing services."
The coal business closed the year with 3.6% organic growth, with a minor EBIT margin contraction. The division continues to provide specialist technical expertise to the coal industry and will focus on operational efficiencies and revenue growth.
The Tribology business had organic revenue of 7.5% with key regions such as Australasia, North America and Latin America performing well.
The business was impacted by labour sourcing shortages, increased operating costs, however, margins improved significantly in the past quarter.
