Revenues at Lasco Manufacturing rose just 3 percent in the June quarter to $1.79 billion but improved profit margin lifted profit after tax by 19 percent to $282 million.
The slow growth in the quarter contrast to a 6 percent rise in revenues in the fiscal year to March 2019 when the company posted revenues of $7.6 billion. The June quarter’s revenues are lower than the $2 billion achieved in the March quarter but are consistent with September and December quarters last year with $1.7 billion and $1.8 billion respectively.
Operating cost rose 7 percent to $330 million but cost of sales declined to $1.19 billion from $1,125 billion in 2018 with the change resulting in gross profit margin rising to 37 percent from 35 percent in 2018. Finance cost was virtually flat at $32 million but taxation rose from $34 million to $40 million. Lasco generated other income of $17 million in the quarter versus just $3 million in 2018. Earnings per share rose to 6 cents from 5 cents in 2018 and are expected to exceed the 26 cents per share realised in the fiscal year to March, with IC Insider.com forecasting 38 cents per share.
According to the managing director’s report, “the positive outturn reflects gains from ongoing improvements in operational efficiencies, reduction in structural costs and streamlining of the operations. Capital improvements for the period totaled $60 million with the main focus during the period being the completion of the powder plant expansion.”
Lasco generated gross cash flow of $348 million for the quarter but paid $250 million in dividends and repaid loans amounting to $106 million. At the end of the period, cash and bank balance stood at $995 million. Long-term loans outstanding amounts to $876 million.
Lasco Manufacturing products.
Loans amounting to $464 million is due to be repaid in the next twelve months. The company seems to be heading into a period of greater maturity, when loans will be repaid from the strong annual cash flows that the company is slated to generate, going forward.
Shareholders equity stands at $5.9 billion and net current assets $2.2 billion, which exceed current liabilities of $1.5 billion.
There has been increased interest in the stock with the recent announcement that the United Cannabis Corporation, the American company that is partnering with Lasco Manufacturing for the production of cannabis-infused water among other cannabis medicinals, has been issued a license to cultivate cannabis through a company called Cannabinoid Research and Development.
The stock traded on the Junior Market of the Jamaica Stock Exchange on Friday at $5.50.
The Jamaica Stock Exchange main market dropped on Friday, with falling stocks beating out advancing stocks more than 2 to 1. 
The average volume and value for the month to date amounts to 2,063,336 units valued at $11,963,163 and previously, 2,084,261 units valued at $12,234,013. July closed with an average of 1,297,718 shares at $17,985,644 for each security traded.
Kingston Wharves dived $6 trading 14,283 shares to close at $63, Mayberry Jamaican Equities exchanged 11,285 stock units with a loss of 90 cents to close at $12, NCB Financial lost $1 to settle at $210 with 107,367 shares changing hands. Sagicor Group shed $1.50 to close at $74 with 87,490 stock units trading, Salada Foods shed $1 to settle at $32 with 14,378 shares changing hands, Scotia Group dropped $1 to end at $55, trading 550,220 shares. Seprod lost $2 to settle at $52 with 49,815 shares changing hands, Supreme Ventures rose $1 to end at $27, in trading 131,179 shares and Sygnus Credit Investments added 23 cents to settle at $23.08 with 125,100 shares changing hands.
Jamaican Teas lost 24 cents trading 94,057 shares to close at $5.61. Jetcon Corporation ended trading 100,500 shares, after rising 53 cents to end at $2.50, Knutsford Express rose 3 cents to end at $11.18 trading 1,506 shares, Limners & Bards closed 19 cents higher at $3.20, with 195,125 stock units changing hands. Lasco Financial lost 10 cents trading 236,244 shares to close at $5.45, Medical Disposables ended trading with 10,000 shares, after rising 10 cents to end at $7.40, Stationery and Office Supplies exchanged 20,687 shares to close at $13 after falling 50 cents and tTech closed with a loss of 34 cents at $7 while exchanging 12,740 shares. 
Trading on the Trinidad & Tobago Stock Exchange fell sharply on Friday from Thursday’s levels, with 13 active securities resulting in just 96,973 units valued at $2,004,702 crossing the exchange. 
The Jamaica Stock Exchange main market inched higher at the close of trading on Thursday, with advancing stocks outpacing declining ones by a good margin. 
Proven Investments jumped $5 to end at $40, in trading just 100 shares, Sagicor Group gained 50 cents to close at $75.50 with 166,393 stock units trading, Sagicor Real Estate Fund lost 75 cents to settle at $11.25 with 2,870 shares changing hands, Scotia Group gained $1 to end at $56, trading 23,023 shares. Seprod climbed $3.99 to settle at $54 with 38,026 shares changing hands, Supreme Ventures lost $1.50 to end at $26, in trading 131,509 shares, Sygnus Credit Investments shed 63 cents to settle at $22.85 with 38,850 shares changing hands and Wisynco Group gained 51 cents to end at $24.51, trading 220,153 shares.
Trading on the Trinidad & Tobago Stock Exchange fell sharply on Thursday from Wednesday’s levels, with 15 active securities resulting in 822,366 units valued at $16,056,645 crossing the exchange. 
National Enterprises dropped 13 cents and concluded trading of 10 units at a 52 weeks’ low of $6.02 and Unilever Caribbean declined 48 cents and ended at $24.50, after exchanging 7,354 shares.
The Junior Market of the Jamaica Stock Exchange declined 31.95 points to close at 3,613.15 on Thursday with 29 securities changing hands compared to 33 on Wednesday as more stock fell than rose. 
Limners and Bards dipped 29 cents in trading 318,261 units to finish at $3.01, Lasco Distributors dipped 11 cents trading 90,016 units at $3.45. Lasco Financial closed trading of 202,259 units and gained 13 cents to end at $5.55, Lasco Manufacturing close with a loss of 25 cents, in trading 217,376 shares to close at 5.50 cents, Medical Disposables dipped 30 cents trading of 987 units at $7.30, Paramount Trading exchanged 90,200 shares, after rising 10 cents to end at $1.70. Iron Rock Insurance closed with a loss of 35 cents at $4, in swapping of 280,948 shares, Stationery and Office Supplies closed trading of 22,410 shares, with a loss of 99 cents at $13.50 and tTech traded 7,306 units and gained 34 cents to end at $7.34.
The Junior Market of the Jamaica Stock Exchange jumped 46.09 points to close at 3,645.10 on Wednesday, as the market continues to recover from the 104 points fall up to Monday.
Stocks ending with price changes| AMG Packaging ended trading with 200 shares, after rising 7 cents to end at $2.08, Blue Power ended trading of 37,579 shares, after rising 70 cents to end at $12, Caribbean Cream declined 50 cents trading 10,000 units to close at $4.20. Caribbean Flavours closed trading of 1,052 units and gained 24 cents to end at $18.99, Caribbean Producers ended with a loss of 1 cent at $4.60 with 118,519 stock units changing hands, Consolidated Bakeries closed trading of 208,705 units and gained 10 cents to end at $2, Derrimon Trading shed 12 cents in trading of 62,033 units at $2.78. Everything Fresh closed trading of 35,087 units and gained 2 cents to end at $1.39. Elite Diagnostic dipped 50 cents in trading of 99,710 units at $6.50. Fosrich ended trading with 23,296 shares, after rising 10 cents to end at $5.60, Fontana closed 10 cents higher at $8.10, with 109,447 stock units trading. General Accident ended trading with 20,533 shares, after rising 66 cents to end at $5.85, GWest Corporation closed 5 cents higher at $1.45, with 179,656 stock units trading. Honey Bun declined 65 cents to settle at $6.50, in trading 77,900 shares, iCreate lost 9 cents in trading 115,034 units to end at 81 cents. Indies Pharma ended trading with 90,977 shares, after rising 30 cents to end at $3.75, Jamaican Teas closed trading of 245,137 units and gained 2 cents to end at $5.92. 
Jetcon Corporation closed 10 cents higher at $2, trading 281,758 stock units, Knutsford Express closed trading of 9,641 units and gained 5 cents to end at $11.15. Limners and Bards closed trading of 279,233 units and gained 10 cents to end at $3.30. Lasco Distributors closed 27 cents to end at $3.56, with 1,000,200 stock units changing hands, Lasco Financial closed trading of 62,465 units and gained 42 cents to end at $5.42, Lasco Manufacturing climbed 45 cents and exchanged 1,616,668 shares at $5.75, Medical Disposables climbed 10 cents and exchanged 100 shares at $7.60. Main Event lost 35 cents in trading 19,800 shares to close at $6.50, Paramount Trading fell 40 cents in trading 165,785 units to close at $1.60, Ironrock Insurance closed trading of 16,500 units and gained 35 cents to end at $4.35. Stationery and Office Supplies ended with a loss of 1 cent at $14.49 with 1,494 stock units changing hands and tTech closed with a loss of 30 cents at $7, after swapping of 4,400 shares.
The Jamaica Stock Exchange main market got a big dent at the close of trading on Wednesday, with advancing stocks outpacing declining ones. 
Jamaica Stock Exchange ended with a loss of $1 at $30 with 383,429 stock units changing hands, Mayberry Jamaican Equities gained $1 to end at $13 with 44,650 stock units trading, MPC Caribbean closed with a loss of $4 to close at 52 weeks’ low of $126 in swapping of 500 shares, NCB Financial gained $7 to end at $215 in trading 83,555 shares. Proven Investments dropped $5 in trading of 27,436 units to settle at $ 35, Proven Investments decline 5 cents in trading of 27,436 units at $ 35. Sagicor Real climbed $1 to settle at $12 with 101,700 shares changing hands, Scotia Group declined $1.99 cents in trading of 24,845 units to close at $55 and Seprod ended with a loss of $1 at $50.01 with 43,825 stock units changing hands.
