Lasco, which manufactures and distributes locally and overseas, has secured $1.7 billion in new loans over 15 months to fund investments, including property acquisition on Red Hills Road.
The operations also continue to make gains.
“The growth acceleration confirms the effectiveness of the demand-generating initiatives being implemented, supported by ongoing investments in sales and marketing. This, together with the completion of major infrastructure investments due to become operational in the final quarter [by March], will enable the company to continue performing well in the future,” stated Lasco Distributors Managing Director John De Silva in the preface to the financials.
Lasco Manufacturing, Lasco Distributors, and Lasco Financial are three separate entities listed on the Junior Market of the Jamaica Stock Exchange. They were co-founded by the late Lascelles Chin.
Lasco Manufacturing Ltd added a $978-million long-term loan in the fourth quarter of 2025, marking a shift for the virtually debt-free company. The loan resulted in $18 million in finance costs for the period, compared to $28,000 a year earlier. The company didn’t disclose which bank originated the loan.
At last October’s annual general meeting, Lisa Watts, deputy general manager of Lasco Manufacturing, said the company had begun installing new processing and filling lines for its beverage operations. The company announced plans to invest roughly $1.1 billion by the end of 2026 to improve operational efficiency.
The company, known as a leading producer of powdered beverages under the Lasco brand, also makes beverages under the iCool brand, plus milk powder and oats porridge.
Hurricane Melissa, a Category 5 storm that hit last October, suspended manufacturing operations for about a week, the company said in its latest shareholder report. Lasco Manufacturing’s revenue for the quarter fell 3.6 per cent to $3.18 billion, compared with the year-earlier period. Net profit rose 5.4 per cent to $698 million.
Turning to Lasco Distributors Ltd, that company secured two loans from First Caribbean International Bank totalling $700 million. Both loans resulted in $14 million in finance costs for the period.
One loan, for $382 million, covers the mortgage on property at 38 Red Hills Road, which Lasco values at about $480 million on its books. “The property is held to earn rental income and for capital appreciation,” stated the company, which operates close by at 27 Red Hills Road.
A second $390-million loan was described as being for “construction” purposes. Details weren’t disclosed in the financials. The Financial Gleaner awaits responses from management on the loan.
Lasco Distributors’ sales for the December quarter reached $8.35 billion, compared with $7.7 billion in the prior year. Higher costs led net profit to slip to $278 million from $329.5 million a year earlier.
business@gleanerjm.com
