LASCO Financial Services has reported a strong increase in profit for the financial year ended March, despite challenges arising from Hurricane Melissa.
The company posted net profit of $82.1 million, up 40 per cent from the previous year.
Profit from operations also increased significantly, rising nearly 33 per cent to $209.4 million.
Revenue remained relatively flat at $2.15 billion, while expenses declined by more than two per cent as the company continued to control costs across its operations.
LASCO Financial says the hurricane disrupted business activity during the third quarter, affecting some of its agents and microcredit customers, particularly in western Jamaica.
However, it noted that a resilient and solutions-driven approach helped the company recover and maintain its competitive position.
Looking ahead, LASCO Financial says it remains focused on efficiency and innovation to grow market share and capitalise on new business opportunities.
comments powered by Disqus
All feeds
