Mar 2016 Financial News

GML achieves 9.7 per cent growth in income

Mar 24, 2016

For the year ended December 31, 2015, Guardian Media Limited achieved income before taxation of $48.9 million. This represented growth of 9.7 per cent over the previous year, chairman Grenfell Kissoon said in his report to shareholders.

“Revenue grew by $14.7 million, or 7.5 per cent over 2014. The company also generated $10.9 million in cash over the previous year. These favourable results are largely attributable to elections advertising revenue and new revenues from billboard advertising,” he said.

Kissoon said GML has embarked on a number of strategic initiatives to expand its traditional and new media operations to diversify into billboard advertising and to modernize operations. During 2015, the group acquired 100 per cent of the voting shares of iRadio Inc., a radio broadcasting station in Guyana and embarked on cost optimisation measures.

“Based on these investments, we are confident that we can navigate through this difficult period and continue on our growth trend consistent with our strategic plans. Our asset base is strong, and we have significant cash reserves,” the chairman said

A final dividend of 47 cents per ordinary share has been approved bringing the total dividend for the year to 65 cents (2014: 60 cents); and 4 per cent for preference shareholders which will be paid on June 13.

Source:
Trinidad Guardian
Thursday March 24, 2016

http://www.guardian.co.tt/business/2016-03-24/gml-achieves-97-cent-growth-income