$13.6m before tax for OCM

One Caribbean Media (OCM) group of companies has shown positive results for the first half of the year despite the current economic challenges facing all the countries in which it operates.  Profit before tax reached $13.6 million, a 24 per cent increase on the $11 million figure recorded for the same period last year.  Revenue of $74 million represented a ten per cent increase compared to the first half of 2009.  In the second quarter of the group’s financial year the media company benefited from enhanced revenue in the Trinidad and Tobago broadcast media, 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 chairman, Sir Fred Gollop said in his statement to shareholders that the company would continue to place greater focus on innovative and strategic initiatives aimed at cost containment and general improvement of operational efficiency.
Sir Fred said also that directors had agreed to an interim dividend of TT$0.20 which would be paid on September 30. (PR)