LASCO Manufacturing Limited (LASM)

Unaudited financials for the first quarter ended June 30, 2025:

LASCO Manufacturing Limited (LASM) for the first quarter ended June 30, 2025 reported a 10% decrease in revenue totaling $2.92 billion compared to $3.25 billion in the corresponding three months last year.

Year to date, cost of sales amounted to $1.80 billion (2024: $2.01 billion), this represents a decrease of 11% year over year. Consequently, gross profit decreased by 9% to $1.12 billion compared to $1.24 billion for the first quarter ended June 30, 2024.

Other Operating Income decreased by 25% to close at $101.86 million (2024: $135.14 million), while operating expenses decreased by 3% from $394.37 million in 2024 to $382.89 million for the three months. As a result, Operating Profit for the first  quarter amounted to $841.62 million, a 14% decrease compared to $976.29 million reported in 2024.

Finance Cost for the three months amounted to $1.59 million, a 121% increase relative to $722,000 reported in 2024. Profit before Tax totaled $840.03 million, a 14% decrease from the corresponding period last year. (2024: $975.56 million).

The tax charge incurred for the first quarter ended June 30, 2025, amounted to $221.69 million, a 19% decrease relative to $273.88 million reported in 2024.

Net Profit for the three months had a 12% decrease to reach $618.33 million (2024: $701.68 million). Unrealized gains on financial instruments for the three months amounted to $17.14 million, a 63% increase from the $10.50 million reported in 2024.

As a result, Total comprehensive income for the three months decreased by 11% to reach $635.47 million (2024: $712.18 million).

Consequently, Earnings Per Share for the three months amounted to $0.15 (2024: EPS: $0.17). The twelve-month trailing EPS was $0.60 and the number of shares used in these calculations was 4,132,913,151. Notably, LASM’s stock price closed the trading period on July 31, 2025 at a price of $6.55 with a corresponding P/E ratio of 10.92x.

Balance Sheet Highlights

The company’s assets totaled $19.75 billion (2024: $16.88 billion). The movement in total assets was mainly attributable to 38% increase in ‘Trade and Other Receivables’ to $4.12 billion (2024: $2.98 billion) and a $931.08 million increase in ‘Short term Investments’ to $4.64 billion (2024: $3.71 billion). Additionally, ‘Inventories’ increased by 10% amounting to $2.47 billion (2024: $2.25 billion).

Shareholder’s equity was $15.54 billion (2024: $13.69 billion), representing a book value per share of $3.75 (2024: $3.31).

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