October 1, 2019
Chairman, Mr. Winston Boothe, at Medical Disposal and Supplies Limited’s 6th Annual General Meeting, highlighted that the company has had, “ another year of growth and group performance.” The company encountered challenges such as, “foreign exchange losses, amounting to $22.3 million and the Hagley Park road construction works. The construction road works on the Hagley Park road has been particularly disruptive to our business over the past year by reducing the level as walk-in traffic, affecting communication systems , affecting receival and delivery of goods as well as affecting water supply.”
Revenue for the financial year as mentioned by the Chairman, Mr. Winston Boothe rose by 9% to $2.22 billion relative to $2.05 billion the previous year while net profit amounted to $112.76 million, a 3% increase. However, revenue for the quarter ended June 30, 2019 totalled $557.23 million, a 3% increase year over year. Net profit for the quarter totalled $16.09 million. Furthermore, Mr. Winston Boothe, highlighted the factors that contributed to revenue growth such as an increase in range of products, price adjustments and growth in sales of the consumer segments of the business.
General Manager, Mr. Kurt Boothe, noted that, “over the years, MDS has primarily been concentrated in pharmaceutical division and so we expanded and diversified the medical and consumer division and we realize greater revenue and gross profit as a result.”
Mr. Kurt Boothe stated that MDS’s strategy for diversification from pharmaceuticals are as follows:
- Restructured Medical Division:
- New Sales Team/ New Territories
- Specialized internal functions
- New Products
- 3M lines
- Specialized data gathering
- Improved Consumer Division Structure:
- Additional Sales Reps
- Down the trade strategy
- New Product Line: Aldor
- New Building Purchase
- Standard Operations Procedure( Ernst & Young)
- Hand Held Sales
Outlook:
Furthermore, the General Manager highlighted the Company’s objectives:
- Internal I.T. infrastructure
- Company Wide Communications
- Inventory Analysis Module
- Continuing Education program for Pharmacists
- Quality Assurance and Quality Control Functions
- Business Analyst Functions
- Consumer Division expansion
- Medical Division expansion
Analyst Certification -This research report is for information purposes only and should not be construed as a recommendation. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
