The LAB has reported a net profit of $82.9 million for the financial year ended October 31, representing a significant 44.7 per cent increase over the corresponding period in 2023.
This growth highlights the company's strategic focus on its Agency Segment, which played a pivotal role in driving profitability by continuing to build and strengthen brands.
Total revenue for the period stood at $958 million, reflecting an almost 15 per cent decline compared with the previous year.
The company attributed this decline primarily to a reduction in Media revenue, which impacted overall performance.
Despite this, the Agency Segment demonstrated exceptional results, outperforming the comparable period and contributing positively to the company's profitability.
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