May 30, 2025
LASCO Manufacturing Limited (LASM)
Audited financials for the twelve months ended March 31, 2025:
LASCO Manufacturing Limited (LASM) for the twelve months ended March 31, 2025, reported a 3% increase in Revenue totaling $12.42 billion compared to $12.05 billion in the corresponding period last year. Revenue for the fourth quarter had a 4% increase to close at $2.92 billion compared to $2.81 billion for the comparable quarter of 2024.
Cost of sales amounted to $7.76 billion (2024: $7.52 billion), this represents an increase of 3% year over year. Consequently, gross profit increased by 3% to $4.66 billion compared to $4.53 billion for the twelve months ended March 31, 2024. The company booked gross profit of $1.13 billion for the fourth quarter versus $1.06 billion reported for the similar quarter of 2024.
Other operating income increased by 51% to close at $362.09 million (2024: $239.68 million), while operating expenses increased by 2% from $1.66 billion in 2024 to $1.70 billion in the period under review. As a result, operating profits for the twelve months ended March 31, 2025, amounted to $3.32 billion, a 7% increase relative to $3.11 billion reported in 2024.
Finance Cost for the twelve months ended March 31, 2025, amounted to $2.56 million, a 67% decrease relative to $7.65 million reported in 2024. As a result, Profit before Tax totalled $3.32 billion, a 7% increase from the corresponding period last year. (2024: $3.11 billion).
The tax charge incurred for the twelve months ended March 31, 2025, amounted to $747.61 million, a 3% increase relative to $724.84 million reported in 2024. For the fourth quarter, the tax charge amounted to $115.30 million (2024: $28.42 million).
Net Profit for the year for the twelve months ended March 31, 2025, had an 8% increase to reach $2.57 billion (2024: $2.38 billion). Unrealized losses on financial instruments for the twelve months amounted to $37.10 million, a 3120% increase from the $1.15 million reported in 2024.
Total comprehensive income for the twelve months ended March 31, 2025, amounted to $2.53 billion, a 6% increase relative to $2.38 billion reported in 2024.
Consequently, Earnings Per Share for the twelve months amounted to $0.62 (2024: EPS: $0.58), while Earnings Per Share for the quarter totaled $0.15 (2024: EPS: $0.16). The twelve-month trailing EPS was $0.62 and the number of shares used in these calculations was 4,132,913,151.
Notably, LASM’s stock price closed the trading period on May 30, 2025, at a price of $7.17 with a corresponding P/E ratio of 11.54x.
Balance Sheet Highlights
The company’s assets totaled $18.48 billion (2024: $16.34 billion). The movement in total assets was mainly attributable to 34% increase in ‘Trade and Other Receivables’ to $3.07 billion (2024: $2.29 billion) and a $1.01 billion increase in ‘Short term Investments’ to $4.29 billion (2024: $3.28 billion). Additionally, ‘Inventories’ increased by 7% amounting to $2.3 billion (2024: $2.14 billion)
Shareholders’ equity was $14.94 billion (2024: $12.98 billion), representing a book value per share of $3.61 (2024: $3.14).
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 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.