Lasco Financials (JSE: LASF) has continued to exceed expectations this financial year. In the quarter ending September 30, 2017, LASF reported doubling its profits.
We also noted in December last year that the transaction to acquire CreditScotia was completed. The acquisition will extend LASF’s reach into 13 new locations across Jamaica.
Lasco Financials released its third-quarter financials, ending December 30, 2017, revealing a $1.8 billion loan book. LASF’s results showed a 36 percent increase in revenues when compared to the corresponding period.
Lasco Financial’s assets also grew by 98.8 percent and can be credited to acquisitions and strategic alliances. As expected, the company’s liabilities increased due to acquisitions and short-term loans.
While LASF P/E (26.06x) is higher than the market(22.5x), I believe that out of the three leading microfinance companies that LASF has the most room to grow. CreditScotia, now called Lasco Microfinance Limited, along with the collaboration with Guardian Life I expect even more impressive results.
If you liked this article and want to read other great stories, try our Archives. Also if you are new to investing you can try our Investment Basics Blog.
If you want to start investing with SSL but don’t have the time to monitor the market or to conduct the trades yourself then you can choose one of SSL’s managed Financial Planning products. We offer a variety of products for every type of investor and if you are interested in managing online trades yourself and having complete control over your investment portfolio then you can try SSL’s Brokerage account.
Follow us on Facebook, LinkedIn and Twitter please leave us a review.