Lasco Manufacturing Records Good Start to Financial Year

• Lasco Manufacturing reported a modest increase in unaudited net profit for the three-month period ended June 30, 2019. Net profit moved up from $237.66Mn (EPS: $0.06) in 2018 to $282.42Mn (EPS: $0.07) in 2019 representing an 18.8% YoY growth.
• Contributing to the improved performance were increased revenues of $55.03Mn (or 3.2%) together with a $14.15Mn increase in other operating income. Moreover, gross margin increased to 37% from 35% and can be attributed to the on-going improvement in operational efficiencies.
• The stock has risen 16.8% since the start of the calendar year, closing Monday’s trading session at $4.32 per share. At its current price, the stock now trades at a P/E of 15.74x earnings which is below the Junior Market Manufacturing sector average of 33.23x.

(Source: LASM Financials)