The One Caribbean Media (OCM) group of companies has produced satisfactory results once again in spite of economic contractions in markets where it operates.
So said chairman Sir Fred Gollop in a statement accompanying the group’s consolidated audited results for the financial year ended December 31, 2011.
Sir Fred noted that due to ongoing macroeconomic challenges, revenue across the group decreased by five per cent from TT$474 million in 2010 to TT$451 million (BDS$135.6 million) in 2011.
Adding that 2010 included exceptional revenue from the general election in Trinidad and Tobago and FIFA World Cup, he said OCM recorded profit before tax and goodwill impairment of TT$95.5 million (BDS$28.7 million) which was 3.5 per cent above the TT$92.2 million achieved in 2010.
“The group continues to focus on its operational efficiency and was able to improve its net profit margin before goodwill impairment from 19 per cent to 21 per cent,” the chairman said.
Profit for the year from continuing operations totalled BDS$21.5 million compared to a loss of BDS$56.2 million the year before.
The directors approved a final dividend of TT$0.43 (BDS$0.13) per share for a total TT$0.68 (BDS$0.20) for the year, BDS$0.07 more than in 2010, to be paid on April 30.
