OCM records $81m profit
One Caribbean Media (OCM) has recorded $81.1 million in profits before tax for the nine month period ending September 2013.
In an advertisement in today’s paper, the group noted this was a 13 per cent increase compared to the same period last year.
The group’s total revenue for the period was $391 million, 12 per cent better than 2012.
“The OCM Group continues to deliver acceptable results,” chairman Sir Fred Gollop said.
He said despite challenges in some markets, the company’s directors anticipated performance will be maintained.
“The group continues to invest in content enhancement and delivery of service improvements. Staff and management remain committed to enhancing value for all our readers, viewers, listeners, advertisers and customers,” he said.
OCM is the largest media organisation in the Caribbean, and the parent company of Caribbean Communications Network (CCN), which owns Trinidad Express Newspapers.
The company is publicly traded on the Trinidad and Tobago Stock Exchange, closing at $18.30 in yesterday’s trading.