September 29, 2020
1. Capital Investments of J$200 million:
- Expansion of Powder Operations
2. Marketing Investments (Approximately J$291 million)
- Efficiency in Marketing Spend- exploiting all media platforms
- Support our Brands (Food Drink & iCool) in both local and export markets
- Support four new flavours of reduced Sugar iCool Juice Drink and one additional flavour of Flavoured Water (Gran-Grape) in both local and export markets.
With regards to new product development, Mr. Rawle stated that, “we continue to invest in new product development as well as renovation of existing products and maintain a robust new product development pipeline notwithstanding COVID-19.”
Notably, according to Mr. Rawle, the objectivesfor 2020/21arecontinued growth, improved margins and profits through:
- Operational efficiencies and lower structural costs-to deliver lower overall costs and savings
- Continued investments in our brands
- Continuation of product innovation/ renovation and launch of new products to enter new market segments in both powders and liquids.
- Growth in exports-to firmly establish the LASCO brands in the overseas markets
- Balanced investments in plant/ equipment processes and technology (digitalization), while continuing to optimize existing infrastructure.
- Investments in human resource development- training.
- Exploring/ Considering Strategic Partnerships/ Alliances to tap opportunities for growth.
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