Campbell Brothers Ltd, a laboratory group in Australia, registered a decline of around 29% in its net profit for the full year ended March 31, 2010.

The company said that the disappointing results were mainly attributable to the reduced global demand in mineral exploration markets for analytical testing services, provided by Campbell's ALS Minerals division. However, the company also said that it is cautiously optimistic for the coming fiscal.

Brisbane based Campbell announced today that the net profit was reported of $A75.3 million for the year ended March 31, decreasing by 29% while it was reported of $A106.2 million in the previous corresponding period.

Total revenue was reported of $A825.5 million in the year, decreasing by 10% while it was reports of $A920.3 million in the previous corresponding period.

Campbell said that its ALS Minerals business experienced a significant reduction in sample volumes during the year and was mainly responsible for the disappointing full year results.

However, Campbell also said that it is optimistic for the coming year as the sample flows were reported up in the last two months of the previous fiscal. The company also said that the addition of new businesses to its portfolio places the group in a strong position to take advantage of opportunities as business conditions improve.