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).
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