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Businessuite 2022 Top Jamaica Junior Market Company – US$ Revenue |
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US$000 |
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US$000 |
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2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
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Company |
2022/2021 |
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2021/2020 |
31-Mar |
1 |
1 |
1 |
1 |
1 |
1 |
JNR |
JA |
Lasco Distributors Limited |
$130,802 |
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$136,672 |
Company Overview
LASCO Distributors Limited is a leading distribution company in Jamaica. The business was established over 30 years ago by the Honourable Lascelles Chin. In a relatively short time, the company rapidly increased its market presence by offering quality products to market at competitive prices. This market positioning and the focus on satisfying consumer needs, have led LASCO to become the market leader in several major categories in the industry.
The company is well known for several innovations and product introductions, namely our flagship product LASCO Food Drink and LaSoy range of beverage products, CURVES Sanitary Napkins and the iCool range of waters, flavoured waters and drinks.
The company was listed on the Jamaica Stock Exchange in October 2010 and is comprised of two divisions — the Consumer Division and the Pharmaceutical Division. This segmentation is based on product specialisation which allows for greater focus to meet our customers’ needs.
The company distributes one of the widest range of fast-moving consumer goods under its own LASCO label and other brands such as CURVES and iCool. The Consumer Division’s core segments are food, beverage, personal care, baby care, adult incontinence and home care products. LASCO also distributes Unilever’s home and personal care portfolio, with brands such as Breeze, CIF, Dove, St. Ives, and AXE.
Another core supplier partner is Salada, with their brands of high quality Jamaican coffees; Jamaica Mountain Peak and Mountain Bliss 876, as well as their range of teas. The Pharmaceutical Division distributes for major international partners including AstraZeneca, Bayer and Roche in categories such as ethical, over the counter (OTC), animal health and equipment, as well as its own private brand of generics under the LASMED brand name.
LASCO’s route to market covers all core channels including Supermarkets, Wholesalers, Small Shops, Schools, Pharmacies, Government Institutions and Health Care Facilities across Jamaica.
Revenue
Total Revenue for the year ended 31st March, 2021 was $20.3B, an increase of 4.1% over the previous year. Growth was broad based across all major categories, and seen in brands within the Consumer Division, and strategic segments in the Pharmaceutical Division.
Gross Profit
Gross Profit was $3.6B for the year, a 3.4% decline versus the prior year, as cost increases experienced due to higher input costs were not completely passed onto consumers. Strategic sourcing initiatives have been intensified to widen our supplier base and continuously identify optimal supply options.
Net Profit
The Company delivered a Net Profit was $909.5M, an increase of 25.3% compared to the year before. This was achieved despite the marginal decline in Gross Profit, which was more than compensated for by rigorous cost controls on overhead expenses, and optimized advertising and promotional spend.
Other Income
Other Income for the year was $147.7M, an increase of 13.4%, primarily driven by increases in investment and commission income.
Managing Director
John De Silva
https://www.jamstockex.com/wp-content/uploads/2021/07/LDL_Annual-Report-2020-2021.pdf