LASF reports 64% decline in year end net profit

June 6, 2025

LASCO Financial Services Limited (LASF)

Audited financials for the year ended March 31, 2025:

LASCO Financial Services Limited (LASF) for the year ended March 31, 2025, reported a 9% decrease in Income totaling $1.81 billion compared to $2.00 billion in the corresponding period last year. Income for the fourth quarter had a 23% decrease to close at $303.63 million compared to $393.40 million for the comparable quarter of 2024.

Other operating income amounted to $338.84 million (2024: $191.87 million), this represents an increase of 77% year over year.

Admin & other expenses increased by 3% to close at $1.21 billion (2024: $1.18 billion), while selling and promotional costs increased by 2% from $767.19 million in 2024 to $782.30 million in the period under review. As a result, operating expenses for the year ended March 31, 2025, amounted to $1.99 billion, a 2% increase relative to $1.94 billion reported in 2024.

Profit from Operations for the year ended March 31, 2025, amounted to $157.78 million, a 38% decrease relative to $255.66 million reported in 2024. Profit from Operations for the fourth quarter amounted to $77.56 million (2024: $35.42 million).

Finance Costs totalled $71.60 million, a 20% decrease from the corresponding period last year. (2024: $88.96 million).

Profit Before Taxation for the year ended March 31, 2025, amounted to $86.17 million, a 48% decrease relative to $166.69 million reported in 2024. Profit Before Taxation for the fourth quarter amounted to $68.14 million (2024: $9.69 million).

Taxation for the year ended March 31, 2025, had a 484% increase to reach $27.55 million (2024: $4.72 million). As such, Net Profit for the year amounted to $58.63 million, a 64% decrease from the $161.97 million reported in 2024. For the fourth quarter, Net Profit was $73.57 million (2024: $69.66 million).

Consequently, Earnings Per Share for the year amounted to $0.05 (2024: EPS: $0.13), while Earnings Per Share for the quarter totaled $0.06 (2024: EPS: $0.05). The twelve-month trailing EPS was $0.05, and the number of shares used in these calculations was 1,280,227,726.

Notably, LASF’s stock price closed the trading period on May 30, 2025, at a price of $1.78 with a corresponding P/E ratio of 38.87x.

Balance Sheet Highlights

The company’s assets totalled $4.10 billion (2024: $4.44 billion). The decline in total assets was primarily due to a $224.93 million fall in ‘Cash and cash equivalents’ to $852.23 million (2024: $1.08 billion).

Shareholder’s equity was $2.33 billion (2024: $2.27 billion), representing a book value per share of $1.82 (2024: $1.77).

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.

2025-06-02T13:08:48-05:00