Medical Disposables

Dividend by Medical Disposables

November 3, 2014 by IC Insider.com

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Medical Disposables & Supplies declared their first dividend, since listing in December, last year.
Medical Disposables will be paying an interim dividend of 4 cents per share on November 19, to shareholders on record at November 14, 2014. The stock which is listed on the junior market of the Jamaica Stock Exchange, will start trading ex-dividend, on November 12, 2014.
The company is enjoying good times, with improved results for the September quarter, with profit after tax rising 66 percent for the quarter, versus the 2013 quarter. For the six months, profit after tax rose 60.6 percent, to $38.7 million, from $24 million.

Filed Under: Company News, Dividends Tagged With: Dividend, Medical Disposables

Impressive sales growth at Medical Disposables

October 31, 2014 by IC Insider.com

Kurk Boothe – Medical Disposables Managing Director

Sales revenue climbed impressively by 26 percent in the September quarter as well as year to date but operating profit performance is not as inspiring, being flat in both periods at Medical Disposables & Supplies. The company reports profit after tax at, 66 percent higher at $21 million for the quarter, versus the 2013 quarter.
In 2013 after taxation of $4.4 million, $13 million was left as net profit. For the six months, profit after tax of rose 60.6 percent to $38.7 million from $24 million, after accounting for $8.4 million in taxes.
For the quarter, gross profit grew 29 percent to $70.4 million compared to $54.5 million and for the six months an increase of 28 percent to$136 million. “This improvement was due to the increased sales in all categories and consistent review of our pricing structure to maintain gross margin efficiency,” Kurk Boothe, Managing Director said in his report to shareholders. The increase in gross profit was helped by an improvement in gross profit margins, increasing during the latest quarter to 33.14 percent from 32.12 last year and to 33.65 percent for the six months versus 32.90 percent in the same period of 2013.
Sales revenue climbed 26.2 percent to $283 million in the September quarter over the $224 million in 2013. For the half year, sales grew 26 percent to $540 million from $429 million in 2013. “This result was in keeping with the company’s strategic forecast of growing market share and widening the customer base in all categories of its business operations,” Boothe stated.
IC Insider understands that sales have moved to more than $100 million per month since the latter part of the last quarter. If this is maintained then it should lift profit going forward and could push earnings to around 40 cents per share for the current financial year.
Expenses| Total operational expenses increased 49.8 percent for the quarter and the half year to September to $47.6 million compared to $31.8 million in 2013 and to $93.8 million for the six months period.
“This increase was driven mainly by staff related expenses, utilities, professional fees and information technology services. Staff related expenses, in particular, were driven by the strategic decision to realign the staff complement and compensation to sustain the current growth, development and expansion of the business, Boothe said.
Finances| Trade receivables have climbed to more than two months of sales at $240 million and inventories have moved up as well to just under three months’ supply at $182 million. Cash funds are at $86 million but borrowed funds have climbed to $106 million.
The stock is one to watch with the price of the stock on the junior market of the Jamaica Stock Exchange at $1.92 at a PE less than 5 times the 2015 profit. The company declared a 4 cents per share dividend, payable in November 19.

Filed Under: Company News, Company Results Tagged With: Jamaican Stock, junior market, Kurk Boothe, Medical Disposables

5 stocks traded in junior market 4 fell

October 27, 2014 by IC Insider.com

The Junior Market closed with 175,408 units valued at $314,853 trading. The JSE Junior Market Index fell 4.59 points to close at 656.81, only 5 securities traded, 1 advanced and 4 declined.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 3 stocks with offers that were lower. The junior market continues to exhibit weakness with 10 securities closing with no bids to buy. There were 4 securities that had no stocks being offered for sale.
Stocks that traded on Monday in the junior market are, General Accident with 32,700 shares, the price rose 4 cents to end at $1.55, Lasco Financial Services with 7,600 units, closed at 90 cents, down 10 cents, Lasco Manufacturing had 24,447 units trading to close at 93 cents, after losing 2 cents, Medical Disposables with 75,500 shares, lost 4 cents to end at $1.92 and Paramount Trading had 35,161 units changing hands at $2.55, after dropping 15 cents.

Filed Under: JSE Junior Market, Stock Market Tagged With: Daily Trading, FX Market, General Accident, junior market, Lasco, Medical Disposables, Paramount Trading

Trading picked up in the Junior Market

October 24, 2014 by IC Insider.com

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Lasco”s new I Cool drinks

Trading picked up in the Junior Market, on the final trading day of the week, with Lasco Distributors and Lasco Manufacturing dominating trading with nearly 3 million shares. The market closed trading with 3,135,271 units, valued at $3,514,115. The JSE Junior Market Index fell 6.59 points to close at 661.40. Only 7 securities traded, 2 advanced, 2 declined and 3 remained unchanged.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 4 stocks with offers that were lower. The junior market continues to exhibit weakness with 11 securities closing with no bids to buy. There were 4 securities that had no stocks being offered for sale.
Stocks trading are, Consolidated Bakeries with 66,667 shares rose by 5 cents to 85 cents followed by General Accident with 2,059 shares and was up 1 cent, to end $1.51, Lasco Distributors traded 1,293,130 units, closed 10 cents lower at $1.20, AMG Packaging traded 2,300 shares at $2.25, Lasco Manufacturing had 1,662,000 units trading to close at 95 cents, Medical Disposables 2,500 shares traded down by 4 cents to $1.96 and Paramount Trading had 106,615 units changing hands at $2.70.

Filed Under: JSE Junior Market, Stock Market Tagged With: AMG Packaging, Consolidated Bakeries, General Accident, Lasco, Medical Disposables, Paramount Trading

Knutsford Express at new high

October 16, 2014 by IC Insider.com

Trading picked up on the junior Market as 8 securities traded, the highest number for some time. At the close of the market, trading activity led to 2,405,521 units valued at $2,877,589 changing hands.
The JSE Junior Market Index increased 0.32 points to close at 663.86 as 3 stocks advanced and 3 declined with Knutsford Express closing at a new all time high.
At the end of trading, there were 3 stocks with their bids higher than their last selling prices and 2 stocks with offers that were lower. Although the number of securities trading picked up, the junior market still continues to show signs of weakness with 9 stocks closing with no bids to buy. On the other hand there were 7 securities that had no stocks being offered for sale.
At the close, Access Financial Services traded 2,295 shares to end with a decline of 2 cents at $10.48, Dolphin Cove with 3000 units trading closed at $8, Knutsford Express with 7,726 shares closed at $5.50 to gain 50 cents, the highest price since listing in January, Lasco Distributors put in 1,000,000 units at $1.15, Lasco Financial Services traded 919,500 at 97 cents, with a 3 cents decline, Lasco Manufacturing lost 6 cents while trading 220,647 units to close at 98 cents, Medical Disposables had 245,000 units changing hands at $2, up 10 cents and Paramount Trading gained 20 cents in trading 7,353 units at $2.70.

Filed Under: JSE Main Market, Stock Market Tagged With: Daily Trading, Dolphin Cove, junior market, Knutsford Express, Lasco, Medical Disposables, Paramount Trading

4 securities trade but bidding improves

October 15, 2014 by IC Insider.com

The Junior Market closed trading with 767,730 units valued at $1,243,917 and Blue Power hitting a 52 weeks’ low. Tthe JSE Junior Market Index fell 2.86 points to close at 663.54 as only 4 securities traded with 1 advancing and 1 declining.
At the close of the market there was 6 stocks with the bid higher than the last selling price and 3 stocks with offers that were lower. The junior market continues to exhibit weakness with 9 stocks closing no bids to buy against 5 that had no stocks being offered for sale.
Medical Disposables with 51,500 units gained 2 cents to end at $1.90, Blue Power dropped $1.05 while there was dealing in 4,070 shares to end at $8, new 52 weeks’ low. Eppley 9.5% preference share closed with 75,130 units changing hands at $6.10 and Lasco Manufacturing ended at $1.04 while 637,030 units were active.

Filed Under: JSE Main Market, Stock Market Tagged With: Blue Power, Eppley, junior market, Lasco Manufacturing, Medical Disposables

Lasco companies lift trading on junior market

October 10, 2014 by IC Insider.com

Lasco water treatment machines, part of the new factory facility at the White Marl in St Catherine,

Just outside Jamaica’s old capital, Spanish Town at White Marl in St Catherine Fresh sits Lasco Manufacturing’s impressive new factory and warehousing facilities, the venue for an analyst and brokerage house tour on Thursday.
The executives of all three Lasco listed companies, hosted a briefing at which the companies performance for the financial year to March this year and results for the June 2014 quarter, were highlighted, along with explanations for some of the new developments, including the addition of more warehousing space, to meet projected increased demand and some of the prospects for growth going forward.
Fresh on the heels of the tour, the two main Lasco companies that will directly benefit from the expansion, traded the largest quantity for some time. Lasco Distributors traded 1.26 million shares and Lasco Manufacturing 1.78 million units.
The Junior Market had trading in 3,828,805 units valued at $4,547,128. The last time the junior market traded with such volume is September 9 when nearly 19 million units were traded. At the close of the market, the JSE Junior Market Index fell 3.01 points to close at 667.90. Only 4 securities traded, none advanced while 2 declined.
At the close of the market, there were 2 stocks with bids higher than their last selling prices and 6 stocks with offers that were lower. The likelihood of continuing weakness is reflected in the 9 stocks that had no bids to buy, against 6 that had no stocks being offered for sale.
In trading, General Accident with 613,089 shares lost 7 cents to end at $1.62, Medical Disposables closed at the lowest price since it was listed in December last year, by shedding 12 cents in ending at $1.88, while trading 172,587 shares. The stock price is close to the IPO price of $1.83. Lasco Distributors traded 1,264,872 units at $1.15 and Lasco Manufacturing traded 1,778,257 shares to close at $1.

Filed Under: JSE Junior Market, Stock Market Tagged With: General Accident, junior market, Lasco, Medical Disposables

Seprod & Lasco Distributors hike dividend

October 9, 2014 by IC Insider.com

Seprod will pay a dividend of 35 cents per share on November 14, to shareholders on record as at October 31. The stock will trade ex-dividend as of October 29.
Seprod paid a dividend of 55 cents per share on July 4, this year. Last year a dividend of 30 cents per share was paid on November 15 and 53 cents per share on July 8 Lasco Distributors declared an interim dividend of 3 cents per share payable on December 9, 2014 to shareholders on record as at November 25, 2014. The stock will trade ex-dividend on November 21, 2014. An interim dividend of 2.3 cents per share was paid on December 10, 2013.
Medical Disposables & Supplies declared an interim dividend of 4 cents per share payable on November 19, to shareholders on record as at November 14. The stock will trade ex-dividend on November 12, 2014. This is the first dividend the company is paying since listing in December last year.

Filed Under: Company News, Dividends Tagged With: Dividends, Lasco, Medical Disposables, Seprod

Trading picks up a bit Junior Market

October 1, 2014 by IC Insider.com

The number of stocks trading in the Junior Market, rose to 5 from only three on Tuesday, with 2 advancing and 1 declining. The junior market Index increased 0.96 points to close at 654.75. Total volume traded is 322,674 units valued at $586,079.
Gains| Stocks recording gains at the end of trading in the junior market are, Lasco Financial 4,515 shares changing hands gained 13 cents to $1 and General Accident with 194,088 shares closed 4 cents higher at $1.59
Firm Trades| Stocks in the junior market that traded to close at the same price as the day before are, Dolphin Cove with 5,000 shares at $8 and Medical Disposables 114,336 shares ended at $2.
Declines| Lasco Distributors is the sole stock declining in the junior market at the end of trading with 4,735 shares closing with a 3 cents loss at $1.15.
At the close of trading 3 junior market stocks ended with bids to buy above the last traded prices and 3 with offers that were lower.

Filed Under: JSE Junior Market, Stock Market Tagged With: Dolphin Cove, General Accident, Lasco, Medical Disposables

Medical Disposables revenue up 26%, profit 13%

August 18, 2014 by IC Insider.com

Winston Boothe – Chairman Medical Disposables & Supplies

Revenues for the June Quarter of Medical Disposables & Supplies rose a strong 26 percent in the June quarter to $258 million from $205 million but profit before tax is up by a much smaller 13 percent, to $17 million from $15 million in 2013.
Profit after tax is up 55 percent as there was no tax charge in the June 2014 quarter, but tax ate up $4 million of the 2013 profit. “The main reason for the growth in revenue is the strategic focus on new and wider product offerings and greater market penetration”, Kurt Boothe, General Manager stated in his report to shareholders.
Gross profit grew 27 percent to $65.6 million from $51.66 million and gross margin moved to 36.24 percent in the quarter, from 33.78 percent in the 2013 June quarter but down from 42.15 percent in the March 2014 quarter. “This improvement was due to the product sales mix, increases in sales of products with higher margins and consistent review of our pricing structure to maintain the gross margin efficiency” Boothe stated. The audited accounts showed Gross profit margin of 35 percent for 2013-14 fiscal year.
Operating expenses climbed 49.7 percent in the June quarter over the 2013 quarter and “was driven mainly by staff related expenses, professional fees and special bank charges. Staff related expenses, in particular, were driven by the strategic decision to realign the staff complement and compensation to sustain the current growth, development and expansion of the business,” the general manager stated.
Earnings per share for the June quarter was 6 cents per share with the full year set to come in around 25 to 30 cents per share based on existing operations. At a stock price around $2 there is not much room for the price to make any major moves in the short term, unless the stock market becomes bullish.
Medical Disposables was listed on the junior market of the Jamaica Stock Exchange in December 2013, when it sold 63,157,895 Shares at $1.83 each and raised $113.7 million in its IPO.
Year over year current assets climbed from $370 million to $514 million due mainly to the IPO funds raised, while current liabilities stood almost static at $221 million. Shareholders’ equity jumped to $369 million from $163 million in March 2013 while borrowed funds are down from $147 million to $128 million, or just under two years’ cash flow.