Dec 2016 Financial News

Sabga sees bumper December ahead

Dec 02, 2016

Group Chairman and Chief Executive of the ANSA McAL Group of Companies, A Norman Sabga, is anticipating that this month would be one of the better business months for the organisation, especially in the media sector.

Speaking with reporters during the announcement of the Anthony N Sabga Caribbean Awards for Excellence 2017 Laureates at the ANSA McAL hospitality suite, Queen’s Park Oval, Port-of-Spain, yesterday, Sabga said the past year had proven to be a “mix match” in the world of business.

He explained: “October was bad but November has been a lot better. We have seen a pattern like that through the year, where some months have been really good and other months have dropped off. So it’s been a mix match.” He added: “We are hoping for a really bouncing Christmas and we have seen indications where December is going to be a tremendous run. We really think December is going to be a great month. We have seen indications of that already.”

Sabga said advertising during the month of December was “always a big jump so we think the media will do well.”

He said he was also happy oil prices had once again risen over $50 a barrel. “It is great for the country and economy,” he added.

Questioned on staff cuts at Guardian Media Limited, Sabga responded: “I don’t have all the details. We have put in a new IT system, which I believe has gone into certain media houses, which automates procedures and planning of the paper. Based on that, it streamlines operations and there has been some cuts there. Beyond that, I have not been told of any further cuts.”

Pointing to unknown factors, he underscored the fact that the past year “has been a rough year for Guardian Media Group. Our expenses have jumped significantly so we do need to look at the organisation. To rally the troops to do more, do better, understand we are in a difficult period and call on our staff to help us weather the storm and to continue to improve the organisation going forward.”

Sabga said while employee numbers had grown significantly in the last three or four years, the first option was to absorb staff into other arms of the organisation and transfer personnel accordingly.

He assured: “We do that in most organisations and will certainly look at it here as well.”

Proud that the ANSA McAL Group of Companies contained a multiplicity of different organisations enabling the seamless transfer of staff, he said: “That has happened on numerous occasions.”

As reporters noted suggestions of additional GML staff cuts looming, Sabga corrected: “I never said there were cuts coming. I said cuts have happened and I am not aware there are further cuts on the horizon.”

Source:
Trinidad Guardian, A11
Friday December 2, 2016