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.
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