Home RANKINGS #1 James E.D. Rawle Managing Director Lasco Manufacturing Limited Businessuite 2019 Top Jamaica Junior Market CEO By US$ % Change in Profit after Tax
#1 James E.D. Rawle Managing Director Lasco Manufacturing Limited Businessuite 2019 Top Jamaica Junior Market CEO By US$ % Change in Profit after Tax

#1 James E.D. Rawle Managing Director Lasco Manufacturing Limited Businessuite 2019 Top Jamaica Junior Market CEO By US$ % Change in Profit after Tax

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Mr. James E.D. Rawle is the Managing Director of LASCO Manufacturing Limited and sits on the Board of LASCO Distributors Limited and LASCO Financial Services Limited as a Non-Executive Director. He did undergraduate studies in Natural Sciences at the University of the West Indies from which he also holds the Master of Science degree in Organic Chemistry. He brings to the Board a wealth of knowledge and experience, having served in various senior managerial positions, at one of the leading multinational food companies in the world for over 41 years.

His extensive training in Organic Chemistry has been the base for his far-reaching work in manufacturing, new product research and development, as well as production and plant management. He also has extensive functional experience in brand management, sales, marketing, finance and strategy formulation and execution.

Mr. Rawle has been past Chairman of several public entities, including The Board of the Bureau of Standards, The Scientific Research Council, The Natural Resources Conservation Authority, The Environmental Foundation of Jamaica, Nutrition Products Limited and The Cocoa Industry Board.

Lasco Manufacturing Limited

Lasco-new-drnksThe year ended March 31, 2019 was, as in the previous year, one of diverse challenges and multiple opportunities, reflecting the dynamic environment in which we operate. On one hand, competitive activities continued to accelerate across all the categories in which we do business, while on the other, consumer demands and expectations continued to rapidly evolve with increasing emphasis on Nutrition, Health, general Well-being and Convenience.

The regulatory framework also tightened as  the authorities launched initiatives to protect the environment and the health and wellbeing of the population. We responded well to these issues, fully aware that the trends will continue, by accelerating the rate of internal change to develop an informed, agile and responsive organization fully equipped to exploit the opportunities presented. The results for the year validate our strategies and initiatives which will also provide the foundation for future growth.

Revenue for the year was $7.57B, an increase of $906M or 14% over the prior year. Gross Profit was $2.8B an increase of 20% over the prior year (2018: $2.3B). Gross margin improvement was  200 basis points.

Operating Profit was $1.26B representing an increase of $397M or 46% over 2018 ($861M).

Net Profit rose to $1.077B compared to $561M in the prior year, an increase of 92%. Earnings per share was $ 0.26 in 2019 compared to $0.14 in 2018. This out-turn was fueled by volume and revenue growth, gross margin improvement and significant gains in operational efficiencies.

Capital Investments amounted to $588M (prior year $341M) with the main projects being the completion of a 65,000 square feet warehouse, expansion of the powder manufacturing operations and technology upgrades. These investments will bolster our efficiency drive and generate important savings.

Total assets at year-end were $8.79B an increase of 14% over prior year with Non-current Assets increasing by 7% to $5.07B. Current assets were $3.7B compared to $3.0B in 2018 an increase of 24% while current liabilities were $1.46B.

An interim dividend of $0.038 per share, was paid to shareholders on August 31,2018. Shareholder’s equity at year end was $5.8B, 19% above prior year and return on equity was 18% compared to 11% in 2018.

We continued to drive product innovation and renovation throughout the year resulting in the launch of new products and formats  in the iCool Juice drink range, new formats of water, and a low sugar variant  of LASCO Creamy Malt Food Drink. Extensive work was done, and is continuing,  on  sugar reduction  in a range of products and we are now well positioned to go to market with products in the   reduced sugar segment. At the same time, we otherwise maintained a healthy new product development pipeline for the future corresponding to emerging consumer trends.

As in the previous year, we invested considerable resources in human resource development with targeted training in all areas of the operation to build capacity and multi-skilled flexible teams. This included  technical training as we upgraded and acquired new  technologies aimed at driving efficiencies.

For the new year, we are committed to continued profitable growth based on multiple drivers including ongoing optimisation of the operations, improving operational efficiencies, new products introductions, waste and cost reductions, and human resource development.

James E.D. Rawle Managing Director Lasco Manufacturing Limited

To view full LASCO MANUFACTURING LIMITED ANNUAL REPORT 2019  click HERE

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