OCM Produced Satisfactory Results, Despite Operating In A Difficult Economic Environment – Hosein
Faarees Hosein Chairman of the One Caribbean Media Group is reporting in the company’s just released results for the six months ended June 30, 2017, satisfactory results, despite operating in a difficult economic environment.
In his notes to shareholders Hosein reported that during the period, the group recorded revenues of TT$217.6 million or US$32 million, which were one per cent less than the revenues for the same period last year of $220.6 million or US$32.4 million.
Net profit before tax of $40 million or US$5.9 million was achieved, a decline of five per cent below the corresponding period of $42 million or US$6.2 million.
Hosein reported that Directors have approved an interim dividend of 27 cents per share to be paid on September 29 and that despite the economic conditions, the group remains confident that their strategies will continue to support the delivery of acceptable results for shareholders.BM