-Guyana radio station delivering results
(Trinidad Express) Guardian Media Ltd has reported a total comprehensive loss of $3 million for its first quarter ended March 31, 2024, further extending the group’s loss-making position from its previous financial year.
GML said in unaudited results for its first quarter published yesterday that the loss before tax was $4.3 million.
For the year ended December 31, 2023 the media arm of the ANSA McAL conglomerate reported a total comprehensive loss of $11.2 million.
“Revenues for the quarter ended March 31 were $22.4 million, a nominal decrease of $.3 million or 1% over the corresponding quarter in 2023,” GML chairman Peter Clarke stated.
“A loss before taxation of $4.3 million was incurred versus a loss before tax of $6 million in the prior year. Multi-media segment revenue in the quarter increased by $1.2 million or 10% compared with the prior year, led by television revenues,” he said.
Clarke noted that GML has seen an expansion in the commercial landscape in Guyana, with its radio station “delivering results which surpassed prior year actuals”.
The printed Guardian also observed growth across its classifieds portfolio.
“Operating expenses have been reduced by $1.4 million or 9% over the corresponding quarter in 2023, through shrewd expenditure management and control. Cash balances as at the quarter’s end have improved by $.1 million over the December 31, 2023 position of $17.5 million. We maintain robust capital levels and our statement of financial position remains healthy,” Clarke stated. “Key to our success in 2024 are our business priorities and strategic imperatives, including talent density.”
GML companies include the Guardian, the TBC Radio Network, CNC3 and others.
(Figures are denominated in Trinidad dollars)
