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Lasco Distributors fiscal Q3 profit climbs 69.2% YOY

Lasco Distributors Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 4 Jamaican cents per share, a gain of 68.7% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$120.6 million, a gain of 69.2% from J$71.3 million in the year-earlier period.

The normalized profit margin increased to 4.2% from 3.1% in the year-earlier period.

Total revenue grew 25.1% on an annual basis to J$2.90 billion from J$2.32 billion, and total operating expenses rose 22.8% from the prior-year period to J$2.71 billion from J$2.20 billion.

Reported net income grew 69.2% from the prior-year period to J$192.9 million, or 6 cents per share, from J$114.1 million, or 3 cents per share.

As of Jan. 29, US$1 was equivalent to J$115.48.