Election spend pushes One Caribbean Profit

One CaribSpending on election advertising in Trinidad & Tobago and new technology employed by helped One Caribbean Media to post strong profit for the September quarter with an increase in revenues of 9.4 percent to TT$147.4 million in the September quarter and with an increase of 60 percent in after tax profits of $30 million.
Earnings per stock unit for the nine months to September, is 93 cents and 43 cents for the quarter and could end around $1.30 for the year.
For the nine months, profits rose to $64.4 million from $57.8 million, in 2014 from nine months revenues of $385 million, that is down on the $402 million generated in 2014. The highest income generated period is the final quarter for the year, with increased demand during the Christmas period.
For the 12 months to December last year, revenues came in at $548 million with profit of $85 million. Helping the performance is a drop in Direct cost from $88 million in the 2014 quarter to $83 million for the 2015 period and for the nine months for 2015 to $234 million versus $260 million in 2014, administrative cost were held tightly with a small increase.
The company’s stock is traded on the Trinidad & Tobago Stock Exchange and closed on Wednesday at $22.50. the company operates radio, TV stations in Trinidad and Tobago and operates in the print media as well.

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