Lasco Manufacturing is reporting a decline in Net profit for the 3rd Quarter ending December 2016 compared to the prior year (December 2015). The company’s profit for the 3 months fell from $231.7m in December 2015 to $113.2m in December 2016.
This due to $116m or 52.6% increase in operating expenses (related to marketing and new product launches) and a 15.8% decline in revenue. However the company remains optimistic about its new products and already initiated cost cutting plans. This may not be welcomed news as the company says the market is already experiencing a slowdown in demand.
During the quarter the company introduced a meal replacement product, Nutrify, the egg-nog flavour to the ice cream line and added another size to the iCool drink.
- Companies: Lasco Manufacturing Ltd