May 2017 Financial News

OCM first-quarter revenues cross $106m

May 05, 2017

ONE Caribbean Media Group (OCM) has achieved “satisfactory” results for the first quarter of 2017.

Revenues of $106.8 million (US$15.8 million) for the first three months of the year compares favourably to the $106.2 million (US$15.7 million) in the same period in 2016, OCM chairman Faarees Hosein said in OCM's first quarter results for the first quarter ended March 31, 2017.

The current economic climate in OCM's main market (Trinidad and Tobago) and the region continues to impact the group, he said. Profit before tax for the first quarter of $20 million (US$2.9 million) decreased slightly from the $21.5 million (US$3.2 million) in the comparative period for 2016.

“The group expects economic challenges to persist in the markets in which it operates but will continue to implement appropriate strategies in order to deliver acceptable results,” Hosein said. OCM is the parent company of Caribbean Communications Network (CCN) which publishes the Express and operates TV6.

Source:
Trinidad Express
Thursday May 4, 2017, 10:00 pm AST

http://www.trinidadexpress.com/20170504/business/ocm-first-quarter-revenues-cross-106m