August 5, 2025
LASCO Financial Services Limited (LASF)
Unaudited financials for the first quarter ended June 30, 2025:
LASCO Financial Services Limited (LASF) for the first quarter ended June 30, 2025, reported a 1% decrease in income totalling $508.94 million compared to $512.09 million in the corresponding three months last year.
Other operating income amounted to $46.55 million (2024: $25.02 million), this represents an increase of 86% year over year.
Admin & other expenses decreased by 4% to close at $281.50 million (2024: $294.62 million), while selling and promotional costs decreased by 1% from $190.17 million in 2024 to $188.64 million for the three months. As a result, Operating Expenses for the first quarter amounted to $470.15 million, a 3% decrease relative to $484.78 million reported in 2024.
LASF highlighted, “The initiatives implemented to manage expenses during the previous financial year, including the closure of non-performing branches and services, all contributed to lower year-to-date expenses.”
Consequently, Profit from Operations for the three months amounted to $85.34 million, a 63% increase relative to $52.33 million reported in 2024.
Finance Costs totalled $23.24 million a 16% increase from the corresponding period last year. (2024: $20.05 million).
Profit Before Taxation for the first quarter ended June 30, 2025, amounted to $62.10 million, a 92% increase relative to $32.29 million reported in 2024.
Taxation for the three months had a 49% increase to reach $21.58 million (2024: $14.49 million). As such, Net Profit for the three months amounted to $40.52 million, a 128% increase from the $17.79 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.03 (2024: EPS: $0.01). The twelve-month trailing EPS was $0.06, and the number of shares used in these calculations was 1,280,227,726.
Notably, LASF’s stock price closed the trading period on August 05, 2025, at a price of $1.97 with a corresponding P/E ratio of 31.00x.
Balance Sheet Highlights
The company’s assets totalled $4.31 billion (2024: $4.50 billion). The movement in total assets was mainly due to downturns in ‘Short-term deposits’ and ‘Receivables’ by $162.62 million and $109.91 million, respectively. However, a $123.63 million decline in ‘Cash and Cash equivalents’ partly offset the movement.
Shareholder’s equity was $2.37 billion (2024: $2.29 billion), representing a book value per share of $1.85 (2024: $1.79).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.