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Lasco Manufacturing records increased profit

Lasco Manufacturing registered increased profit for the three months ended March 2022.
 
Profit for the period was J$1.7 billion, versus $1.38 billion during the corresponding period last year.
 
Total revenue for the year was $1.3 billion more, at $9.5 billion.
 
The company said the cost of  raw material, rising shipping expenses and volatility in foreign currencies affected its performance.
 
In response, it said it had been forced to restructure its operational strategies to avoid major losses.
 
Lasco Manufacturing has asserted however that it is  optimistic about the fiscal year to 2023, despite the economic challenges caused by the COVID-19 pandemic and the Russia-Ukraine war.


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