Lasco Financial Services (LASF) has managed to eke out a 17% rise in profit during the half-year period for the company.
The company recorded a net profit of $156.8 million which is $23.2 million more than what it had earned a year ago during the same period when it saw 133.59 million.
Net profit for the quarter ending in September amounted to $73.97 million, which rose from $58.61 million during the same period in 2021. Accumulated transactions during the half-year period rose 3.7 percent compared to the same period in 2021. The 2022 figure stands at $1.18 billion.
Despite the current challenges that are affecting the financial market locally Managing Director Jacinth Hall-Tracey seems optimistic about the current business strategy.
“We continue to see the resilience in our business lines in spite of the challenging and competitive market conditions”, She said.
Lasco Financials Services saw a slim increase in total assets which rose by 1.4 percent which would put it at $4.43 billion.
This was mainly attributed to a 9 percent increase in ‘Receivables’ which closed at $1.53 billion which is approximately $130 million more than what they had received in 2021 during the same period. Other factors such as a 19 percent decline in cash and cash equivalents come into play.
Overall, the numbers recorded show the level of resiliency the company is showing in the current market. Let’s see what the next half will look like for the company.
