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LASCO Distributors doubles export team

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LASCO Distributors (LASD) has doubled its export field team, having been appointed the exclusive distributor by LASCO Manufacturing (LASM) for the export market as part of a strategic decision effective April 1, 2016.

The arrangement has prompted structural changes and new investments in both human and infrastructural resources. LASD has assigned two Export Directors with extensive experience in growing and developing export markets to lead the export thrust.

In addition to distributing products locally for LASM, the company will now distribute established brands such as LASCO Food Drink, LASCO LaSoy, LASCO Porridge Mix and iCool beverage products to existing export distributors across territories such as the Caribbean and North America.

As such, LASCO Manufacturing will give greater focus to innovation and production of affordable, delicious and nutritious products. Its most recent innovation, Ice Dream, follows the hugely successful iCool, while the flagship product Food Drink continues to lead in the fortified beverage market.

LASD’s Managing Director Peter Chin says “Consolidating all LASCO sales, both domestic and export under one roof, will realize benefits from both operational and marketing efficiency”.

LASD is just about nearing the completion of an additional 100,000 square feet expansion of storage space at its current warehouse complex at cost of nearly $1.2 billion.

The additional space will accommodate the increased inventory, which has been brought on by iCool and the company’s distribution arrangement for other leading local and international brand houses including Salada and Unilever.

The Unilever brand portfolio consists of Lipton, Red Rose, Knorr Side Dishes, Hellman’s, Blue Band, Flora, I Can’t Believe it’s Not Butter, Country Crock and Breyers, as well as the Suave, Tresemme and St. Ives personal care products.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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