Higher Revenue and Reduced Costs Shore Up Profit at Lasco Manufacturing
- For the three months ended June 30, 2020, Lasco Manufacturing Limited reported an unaudited net profit of $341.81Mn (EPS: 8¢), up by 21.0% (or $59.39Mn) when compared to the same period in the prior year.
- This performance was driven by a 3.4% (or $60.76Mn) increase in revenues, a 5.8% (or $19.26Mn) reduction in operating expenses, and a 49.3% (or $15.79Mn) decline in finance costs.
- Since the start of the year, the company’s stock price has fallen 19.4% to close trading at $3.78 on Wednesday, July 29, 2020. The stock currently trades at a P/E of 15.2x earnings, which is below the Junior Market Manufacturing Sector Average of 21.6x earnings.
(Source: LASM Financials)