Durrant Pate/Contributor

LASCO Financial Services Limited is reporting its best half-year performance ever, with net profits skyrocketing 866 per cent from a paltry J$9.15 million in 2024 to J$88.42 million for the period ended September 30.

During the second quarter, net profit increased to J$47.66 million, compared to a loss of J$8.64 million in 2024. Profit from operations for the six months ended September 30, 2025, amounted to J$176.72 million, a 122 per cent increase relative to J$79.50 million reported in 2024. Profit from operations for Q2 rose to J$91.14 million, coming from the J$27.16 million posted last year.

The latest audited financials show that the half-year pre-tax profit was J$133.09 million, representing a 244 per cent increase from the J$38.69 million reported in 2024. Pre-tax profit for the second quarter amounted to J$70.75 million, up from J$6.41 million in 2024.

Commenting on the positive performance, managing director, Jacinth Hall-Tracey states, “This cycle of recovery and improvement has boosted shareholder value and provides a foundation for future growth.”

“Cost control measures implemented in early 2024 are continuing to yield positive returns,” she added.;

Income relatively flat

Income was relatively flat for the period, registering consolidated total income of J$1.12 billion, up from J$1.08 billion for the half-year under review. This represents an increase of J$39.5 million or 3.7 per cent year-over-year, reflecting a general rebound of remittance transactions.

Consolidated expenses for the six months totalled J$946.3 million, down five per cent from J$1 billion in the prior year. This decrease, according to the company, highlights disciplined cost management and reduced marketing investment, which was necessary to launch the LASCO Gold Direct to Card Remittance service in the previous year.

Hall-Tracey explains, “while management is working steadfastly to increase remittance transactions to early 2024 levels, our other services continue to contribute positively to overall growth in income, including card services, merchant services and microfinance services.“

Cash and short-term deposits total J$1.2 billion as at September 2025, down 5.6 per cent year-over-year but up by 9.3 per cent from Q1 2025. Liquidity has improved since year-end, but there is a slight reduction compared to the prior year, due to increased loan disbursements. At the same time, total assets grew 4.9 per cent year-over-year and 6.12 per cent since March 2025, driven primarily by a 19.3 per cent increase in loan and interest receivables. 

This reflects continued expansion in the lending segment of the business through the microfinance subsidiary. The reduction in long-term debt by 13.4 per cent compared to last year reflects active, on-time repayment of debt obligations, strengthening of the company’s balance sheet and reduced interest expense exposure. 

Equity increased by 4.9 per cent year-over-year, reflecting this year’s strong profitability to date.