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LASCO Manufacturing fiscal Q3 profit climbs 68.3% YOY

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LASCO Manufacturing fiscal Q3 profit climbs 68.3% YOY

Lasco Manufacturing Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 4 Jamaican cents per share, a gain of 68.4% 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$166.5 million, a gain of 68.3% from J$98.9 million in the prior-year period.

The normalized profit margin climbed to 9.6% from 7.9% in the year-earlier period.

Total revenue rose 39.0% on an annual basis to J$1.74 billion from J$1.25 billion, and total operating expenses increased 35.5% on an annual basis to J$1.42 billion from J$1.05 billion.

Reported net income rose 46.4% year over year to J$231.7 million, or 6 cents per share, from J$158.3 million, or 4 cents per share.

As of Feb. 4, US$1 was equivalent to J$121.01.