(Trinidad Express) – Port of Spain-based One Caribbean Media Ltd (OCM) has recorded growth in revenue for the nine-month period up to September 30, 2014.
In its unaudited results for the third quarter, OCM chairman Sir Fred Gollop said sales of $402 million (US$62.3 million) were 2.5 per cent above last year’s $392 million (US$60.8 million).
“The challenge in the Barbados and Eastern Caribbean markets have had an adverse impact,” Sir Fred said. “Profit before tax of $78.1 million (US$12.1 million) was 3.7 per cent less than the$81.1 million (US$12.6 million) recorded in the same period in 2013.”
The result reflected in the contraction in the markets outside of Trinidad and Tobago and the fact that the 2013 comparative period included a general election in Barbados, the Tobago House of Assembly elections in the sister island and local government and by-elections in Trinidad, Sir Fred said.
“The Group continues to invest in content enhancement in the print and electronic media and on improving services and efficiencies,” he said.
OCM’s policy of selective strategic diversification continues to be pursued, Sir Fred said.
“Although we expect the sluggishness in Barbados and the eastern Caribbean will continue in the last quarter we expect continuing growth in Trinidad and Tobago and overall growth in the Group in 2015,” he added.
OCM was born in January 2006 from the merger of Caribbean Com-munications Network (CCN) and the Nation Corporation Group (Barbados). CCN comprises the Trinidad Express newspapers, CCN TV6 and the Grenada Broadcasting Network.
