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).

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