LASF Reports 8% Decline in Year End Net Profit

LASF recorded a total of $1.02 billion in Trading Income; this represented a growth of 27% relative to the $805.75 million recorded in 2016.  Other Income amounted to $46.96 million, a decline of 27% compared to $64.26 million in 2016, this resulted in overall income of $1.07 billion, a growth of 23% compared to $870 million in 2016. For the fourth quarter Overall Income was $240.18 million up 14% (2016: $210.65 million).

Operating Expenses was a total of $834.28 million, 29% more than the $648.72 million the year prior. Selling and Promotional Expenses increased 27% to close at $432.87 million relative to $341.46 million in 2016, while Administrative Expenses rose 31% to close at $401.40 million (2016: $307.26 million). For the fourth quarter Operating Expenses totaled $205.44 million (2016: $153.58 million).

As a result, Profit from Operations grew by 7% to total $236.32 million, relative to the $221.29 million recorded last year.

Finance Cost amounted to $4.84 million (2016: $318,000), resulting in Profit before Tax of $231.47 million relative to $220.97 million in 2016.

After taxation of $43.69 million Net Profit amounted to $187.78 million relative to $203.38 million in 2016 an 8% decline.

Earnings per Share for the year amounted $0.15 (2016: $0.162), while EPS for the quarter totaled $0.02 relative to $0.04 last year. The number of shares used in the calculation was 1,254,577,724.

Balance Sheet Highlights:

As at March 31, 2017, the company’s assets totaled $1.55 billion, $402.76 million more than its value a year ago. This increase in total assets was largely driven by increases in ‘receivables’ and ‘short term deposits’.

Equity attributable to stockholders of the company amounted to $1.16 billion.  This translated to a book value per share of $0.92 relative to $0.79 in 2016.



Analyst Certification -This research report is for information purposes only and should not be construed as a recommendation. 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 effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.