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Businessuite 2021 Top 50 Jamaica Junior Market Companies – US$ Revenue |
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NR |
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US$000 |
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US$000 |
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US$000 |
2017 |
2018 |
2019 |
2020 |
2021 |
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Company |
2020/2021 |
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2019/2020 |
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2018/19 |
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JNR |
JA |
Lasco Distributors Limited |
$136,672 |
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$136,763 |
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$122,721 |
This performance is attributed to focus, proactivity, and speed of execution that we continue to develop throughout the organization.
Sales revenue grew to $19.5B or 7.5% above the revenue of the prior year (2019: $18.1B). Gross profit grew by 6.4%, or $227M compared to the previous year to close at $3.8B.
Operating expenses grew by 3 % over prior year reflecting improved controls and efficiency gains over the year.
Net Profit for the year was $725.7M, which was a 21.4% increase over the prior year. Earnings per share were $0.21 versus $0.17 in the last year.
In the Consumer Division, we continued to invest heavily in our brands, ensuring efficiency in marketing spend, while we expanded our distribution reach thereby making our products more widely available.
We had significant success with several innovative promotions for key brands. Consumer contact and focus were strengthened as we exploited all media platforms in our communication mix. A number of new products and formats were launched in the refreshing beverage category, notably reduced sugar variants of the popular iCool range. These were well accepted and continue to perform in line with expectations.
Our objective is to continue to drive growth and margin improvement in the Division through the on-going expansion and enhancement of our distribution network to reach existing and prospective consumers, introducing new products in appropriate formats and price points to targeted markets and leveraging existing strategic partnerships.
The Pharmaceutical Division contributed strongly to the overall performance in terms of revenue and profit reflecting improved supply chain management, effective execution, and close collaboration with Principals. The focus is to expand our footprint in the Pharma sector based on a continued close partnership with our strategic partners and other stakeholders and to optimize our route to market.
Investing in Continuing Medical Education activities for health care professionals will continue to be an integral part of our outreach initiatives.
Total Assets at year-end were $9.15B an increase of 6% over the prior year with Non- Current Assets increasing by 15 % to close at $2.3B. Current Assets were $6.85B or 3.3% above prior year while Current Liabilities stood at $3.38B.
An interim dividend of $0.043 per share totaling $150.8M was paid to shareholders on July 18, 2019.
The Board of Directors was fully engaged during the year and continued to ensure the effective execution of strategic initiatives, risk management, internal controls, and corporate governance matters.
Extracted from Executive Chairman’s Report
Hon. Lascelles Chin,
O.J., C.D., LLD. (Hon. Causa)
EXECUTIVE CHAIRMAN
More information https://www.jamstockex.com/wp-content/uploads/2020/08/LDL_Annual-Report-2020.pdf