Saturday, Aug 18, 2018

Lower revenues for OCM

Lower revenues for OCM
31 Jul
2018

One Caribbean Media Limited has reported lower revenues in its half year consolidated un-audited results for the half-year ending June 30th, 2018.

The company owns the Nation Newspaper and Starcom Network.

According to Chairman Faarees Hosein, the group reported revenues of US $28.5 million, compared to US $32 million the previous year.

Net profit before tax was US $4.2 million, compared to US $5.9 million the prior year.

The chairman says the results reflect costs incurred in the ongoing restructuring efforts in the group, particularly in the Barbados market.

He adds that the group's performance continues to be impacted by the challenges faced in the regional economies in which they operate.

He says efforts continue to focus on improving operational efficiencies, and implementing strategies to boost revenue.

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