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Lasco Manufacturing reports higher earnings for third quarter

Lasco Manufacturing says despite supply constraints and COVID-19 containment measures, it managed to earn more net profit for its third quarter compared to the previous year.
 
Post tax earnings for the three-month period ended December were up 43 per cent at $403 million.
 
Net profit for the same period in 2020 was $281 million.
 
Lasco's revenues also increased by 15 per cent to $2.4 billion.
 
However, the company continued to see strained margins due to bottle necks associated with COVID-19. 
 
Lasco says it will inevitably have to pass on increased costs to consumers.


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