THE new line of iCool products aided Lasco Manu-facturing Limited (LML) to earn $158.2 million net profit for its December third-quarter 2014 or nearly one-fifth higher year-on-year.

Concurrently, Lasco Distributors Limited (LDL), an affiliated company, announced plans to increase the distribution of Unilever products — its third announcement in as many months.

“This performance was mainly due to increased sales volume in the export markets as well as the introduction of the iCool line of products. The export division revenue year-to-date shows a 53 per cent growth over the same period in the 2013-2014 financial year,” stated LML managing director Dr Eileen Chin in her statement prefacing the financials, released to investors this week.

LML earned $1.25 billion in revenues or 20 per cent higher revenues year-on-year. Over-nine-month revenues totalled $3.3 billion or 16 per cent higher year-on-year.

“Notwithstanding the vulnerable economic conditions and the International Monetary Fund pressure over Government to keep austere economic policies, LML continues to perform well,” she stated.

The company added that it incurred increased costs due to a “significant investment” in marketing to support and promote the introduction of its iCool line of beverages.

LDL advised shareholders on Monday via a release to the Jamaica Stock Exchange (JSE) that it will distribute additional Unilever products including Breeze, Mistolin, Quix, Radiante, Comfort, Axe, CIF, Degree, Dove, Suave, Vaseline Intensive Care Lotion, Qtips and Ponds.

“LDL will be responsible for the distribution of these Unilever products effective February 1, 2015,” stated the JSE release. It’s the third in a series of Unilever products that LDL will distribute.

Lasco chairman Lascelles Chin in 2013 announced ambitious plans to double profits at the three affiliated companies in three years.

The projection would double LDL profits to roughly $1 billion; LML profits to $1.2 billion; and Lasco Financial Limited (LFL) profits to roughly $320 million, based on the 2013 projection. Earlier in 2011, Chin announced plans to double sales in three years for his manufacturing division–LML — from $2.9 billion to some $6 billion.

Those plans were dependent on the completion of the factory expansion which was delayed before construction began in January 2012.

The three companies have roughly $7.14 billion in market capitalisation as at February 2015. The largest chunk is held through LML with four billion ordinary shares at $1.20, followed by LDL with 3.3 billion ordinary shares at $1.40, and LFL with 1.2 billion ordinary shares at $1.05.