LASD reports 12% increase in First quarter Net Profits
Lasco Distributors Limited (LASD) For the quarter ended June 30, 2017: Revenues grew by 6% or $235.53 million to end the period at $4.13 billion, up from $3.90 billion for the first quarter of 2016. Cost of sales rose by $179.23 million or 5.6% amounting to $3.38 billion resulting in gross profits of $754.42 million, an 8.1% increase year over year. Other operating income increased by 86.3%, to end the period at $18.43 million compared to the $9.89 million in the comparable quarter a year ago. Operating Expenses grew by 10.6% to end the period at $555.77 million (2016: $502.34
Daily Market Summary- August 9, 2017
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Government Operations Results for June 2017
For the period of April 2017 to June 2017, the GOJ reported Total Revenues & Grants of $125.84 billion, $7.76 billion more than the government’s projection. Furthermore, year over year, this represents an increase of approximately 9.3% relative to the $115.13 billion recorded for the corresponding period in 2016. ‘Tax Revenue,’ ‘Non-Tax Revenue’ and ‘Grants’ outperformed projections while ‘Bauxite Levy’ and ‘Capital Revenue’ under-performed projections during the review period. ‘Tax Revenues’ amounted to $117.12 billion, $5.87 billion more than budgeted, ‘Non-Tax Revenue’ of $6.90 billion was reported; $1.45 billion more than budgeted. ‘Grants’ totaled $1.44 billion, $451.3 million or 45.7%