OCM first half profit margin stands at $13 million

DESPITE THE GLOBAL ECONOMIC meltdown, One Caribbean Media (OCM) group of companies has shown positive results for the first half of the year. Profit earned before tax of BDS$13.6 million was an increase by 24 per cent over the $11 million figure recorded for the same period last year. Revenue of $74 million represented a 10 per cent increase, compared to the first half of 2009.  In the second quarter the group benefited from enhanced revenues in the broadcast media in Trinidad and Tobago occasioned by the unexpected general election. Profit attributable to shareholders of $9.6 million was 18 per cent higher than last year’s $8.2 million.  OCM said it would continue to place greater focus on innovative and strategic initiatives aimed at cost containment and general improvement of operational efficiency. The group said directors had agreed to an interim dividend of 20 cents which would be made on September 30.