May 30, 2025
LASCO Distributors Limited (LASD)
Audited Financials for the Twelve Months Ended March 31, 2025
LASCO Distributors Limited (LASD) reported a 4% increase in revenue for the twelve months ended March 31, 2025, totaling $30.26 billion, compared to $29.19 billion in the corresponding period last year. Revenue for the fourth quarter rose by 3% to $7.56 billion, up from $7.33 billion in the comparable quarter of 2024.
Cost of Sales amounted to $25.02 billion (2024: $23.91 billion), representing a 5% year-over-year increase. Consequently, gross profit declined by 1% to $5.24 billion, compared to $5.28 billion for the twelve months ended March 31, 2024. For the fourth quarter, the company recorded gross profit of $1.22 billion, down from $1.32 billion in the same quarter of 2024.
Administrative and other expenses increased by 7% to $3.05 billion (2024: $2.85 billion), while selling and promotional expenses decreased by 1%, from $808.85 million in 2024 to $800.53 million in the period under review. As a result, total operating expenses for the twelve months ended March 31, 2025, amounted to $3.85 billion, a 5% increase compared to $3.66 billion in 2024.
Profit from operations for the twelve-month period amounted to $1.69 billion, a 6% decrease from $1.81 billion reported in 2024. For the fourth quarter, profit from operations was $383.03 million (2024: $305.49 million). Finance costs totaled $16.76 million, a significant increase of 3,192% compared to $509,000 in the corresponding period last year.
Profit before taxation for the twelve months ended March 31, 2025, was $1.68 billion, reflecting a 7% decline from $1.81 billion in 2024. For the fourth quarter, profit before taxation amounted to $375.15 million (2024: $305.35 million).
Taxation for the twelve-month period decreased by 7% to $338.97 million (2024: $364.73 million). Net profit for the year amounted to $1.34 billion, a 7% decrease from $1.45 billion in 2024. For the fourth quarter, net profit was $291.55 million (2024: $249.73 million).
Total comprehensive income for the twelve months ended March 31, 2025, was $1.34 billion, down 8% from $1.46 billion in 2024. For the fourth quarter, total comprehensive income amounted to $269.44 million (2024: $267.67 million).
Earnings per share (EPS) for the twelve months amounted to $0.38 (2024: $0.41), while EPS for the quarter totaled $0.08 (2024: $0.07). The twelve-month trailing EPS was $0.38, based on 3,525,702,702 shares outstanding.
Notably, LASD’s stock price closed the trading period on May 29, 2025, at $4.10, with a corresponding P/E ratio of 10.80x.
Balance Sheet Highlights
The company’s total assets amounted to $15.86 billion (2024: $14.21 billion), driven primarily by an increase in inventories, which rose to $5.32 billion (2024: $4.56 billion).
Shareholders’ equity stood at $10.47 billion (2024: $9.52 billion), representing a book value per share of $2.97 (2024: $2.70).
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