Other Operating Income Boost LASD Profits
- Lasco Distributors made a profit of $620.85(EPS: $0.18) for the nine months ending December 31, 2018, which represents a +16% increase over the $535.22Mn (EPS: $0.16) earned in 2017. This was driven by a boost in other operating income which grew by +150%, coupled with a +9% increase in revenues.
- Total operating expenses during the period amounted to $2.1Bn, an increase of 13.6% compared to the corresponding period in 2017. This was primarily due to start-up marketing costs from newly launched brands, as well as increases in insurance and depreciation expenses related to warehouse expansion, and other capital expenses for increased operational capacity.
- LASD’s stock price has remained flat YTD with a very marginal +0.26% appreciation and currently trades at a P/E of 12.16x earnings which is below the junior market average of 32.52x earnings.