Strong Revenue Growth And Lower Costs Boost Lasco Distributors’ Bottom-Line
- Lasco Distributors Limited reported an unaudited net profit of $258.02Mn (EPS: 7¢) for the three months ended June 30, 2020, which represents 57.4% (or $94.11Mn) increase relative to the corresponding period in 2019.
- This favorable outcome can be attributed to an 8.4% (or $366.23Mn) increase in revenue, a 38.9% (or $20.48Mn) increase in other operating income, and a 10.2% (or $73.79Mn) decline in operating expenses. These improvements countered the 9.6% (or $334.70) hike in the cost of goods sold.
- The stock price has fallen 3.1% since the start of the year, closing Wednesday’s trading session at $3.12. At this price, the stock trades at a P/E of 13.4x earnings, which is below the Junior Market Distribution Sector Average of 19.9x earnings.
(Source: LASD Financials)