Lasco Distributors Reporting Net Profits After Tax Up 28% For The Nine Months Ending December 2017
Deputy Executive Chairman and Managing Director for Lasco Distributors, Peter Chin is reporting that net profits after tax were up 28 percent or $117.8 million to $535 million from the $417 million in the corresponding 2016 period.
Reporting in the company’s just released unaudited results for the nine months ending December 2017, he indicated that revenues of $12.2 billion was marginally higher for the year to date, representing an increase of $184.3 million on the $12.06 billion generated in 2016.
Commenting further on their performance, Mr. Chin reported that the company’s growth strategy is now centered on growing key brands and bringing new innovations to the market, both locally and internationally.
This saw them rolling out new mint flavours in the instant Chocolate range and guava pine for the iCool brand in the quarter and in the coming months, is expected expand its product offers even further.
Lasco Distributors saw shareholder’s equity growing by 16.5% to close at JA$4.5 billion, up from $3.6 billion, closing the nine-month period with earnings per share up 4 cents or 14.4% to 16 cents, with analyst projecting 20 cents for the full fiscal year.
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