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).

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