Saturday, April 13, 2024

OCM profits up in first quarter


Share post:

One Caribbean Media Ltd (OCM) has recorded increased profits for the first three months of this year.
“I am pleased to report that for the first quarter of 2011, group net profit before tax of TT$17.5 million [BDS$5.4 million] increased by 12 per cent from TT$15.5 million [BDS$4.8 million] compared with the prior period in 2010,” OCM chairman Sir Fred Gollop said.
The improved financial performance was achieved notwithstanding revenues of TT$103.4 million (BDS$32.2 million) being relatively flat, “reflecting the continuing challenges of the economies in which we operate”, he said in the group’s unaudited financial results.
Profit attributable to shareholders of TT$12.6 million (BDS$3.8 million) was more than the TT$11.1 million (BDS$3.4 million) in 2010, a 13 per cent increase, Sir Fred disclosed.
“We expect that the group’s performance will continue to improve as sales and marketing strategies and other initiatives take effect,” he added.


Please enter your comment!
Please enter your name here

Related articles

Park ‘must go’

The operator of a beach front restaurant at Paynes Bay, St James has been ordered to dismantle a...

Slow going at mobile clinic

It was a slow going on Thursday as the Ministry of Health’s new mobile clinic moved into Rosemont,St...

New route for Grand Kadooment

Masqueraders will be parading on a new route on Grand Kadooment day. That was announced during the Crop Over...

Gastro on the rise while dengue cases drop

Dengue fever cases continue to decline but the numbers are still above the outbreak threshold. In its most recent...