Major profit increase for Lasco Financial Services

Lasco Financial Services is reporting a major increase in profits.

The company, which is listed on the Junior Stock Exchange, posted profits of 56-point 8 million for the six months ending September this year.

That's an increase of 156-percent over last year's figures.
Income rose in the September quarter by 86-percent from 58-point one million to 108-point one million.

Lasco says the increase came largely as a result of the expansion of its remittance network.

Remittance business grew 68-percent with a 40-percent expansion in its agent network.

However while its revenues from remittances, cambios and loans continue to grow, it said other operating income remained flat.

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