Trinidad’s Guardian Media (GML) reported profit after tax that declined to $3.8 million for the first quarter this year from $7.3M in the March 2013 quarter. The media group generated revenues of $44.5 Million for the first quarter compared with $46.1 million earned for the corresponding period in 2013. , The 2013 revenue benefited from advertising relating to election campaigning in that year. The March quarter is not the best in the media business coming after the high advertising Christmas period .
Management indicated in their report to shareholders that the 2014 results was impacted by lower revenues and increased operational costs including the acquisition of the West Indies home series cricket rights for the next six years.
Our Balance Sheet continues to strengthen with increases in net assets of $42.2 Million moving from $273 Million in 2013 to $315 Million in 2014 and cash reserves increased by $3.8 Million over the comparative period.
According to management investments made to date in talent, products and capacity enhancement, and a positive outlook for the economy in 2014, they are confident of achieving the budgeted projections for 2014. They did not disclose what their forecast is but IC Insider expects the company will earn close to the results for 2013 of TT$45 million.
Guardian Media profit drops
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[…] voting. According to a report by the Guardian today, H.H.B & Associates, which conducted the Guardian Media Ltd (GML) poll, is projecting a PNM victory, with the opposition party taking 22 seats and the PP […]
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[…] Guardian Media has a respectable first quarter for 2015 in spite of a tight economy in Trinidad with the sharp fall in the price of oil. The improvement did not come from the main business of news dissemination, instead it came from the multi-media segment. Guardian reported profit before tax for the quarter increasing by 32 percent to reach $6.03 million, from $4.57 million in 2014. After accounting for corporate taxes, profits grew 17 percent to $4.48 million from $3.84 million in 2014. The print segment made less profit before taxation than in 2014, with $1.24 million reported in 2015 versus $1.69 million in 2014 while the Multi–media segment generated $4.8 million compared with $2.9 million in March 2014. Whilst revenue grew marginally from $44.4 million to $45.1million, management of operating costs and the realization of operational efficiencies and a reduction in finance cost from $495,000 to $243,000 resulted in the increase in profitability. Cash flows increased by $2.4 million for the 2015 quarter resulting from cash inflows from operations rising by $11.6 million compared with $9.2 million in 2014, leaving cash on hand of $113 million. Equity capital ends at $382 million. “We expect these improvements in performance to continue for the rest of the year,” management stated, in their release to the Trinidad Stock Exchange with the quarterly financial statements. The stock last traded in January at $19.76 on the Trinidad Stock Exchange. If earnings should continue at the pace of the first quarter the company could earn $1 per share which would place the PE at 20, quite steep for a company in a matured market. At the close on Monday there were no stocks offered for sale and no bids to buy. […]
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[…] valued at $3,249,850 to end at $17.28, Flavorite Foods added 14,072 shares and closed at $4.80. Guardian Media with 805 shares changing hands, ended at $19.76, National Flour Mills trading 5,000 shares at $1.55, […]
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[…] by a mere 0.08 points to end at 44.42. Gains| Stocks increasing in price at the close are, Guardian Media closing at $19.76 having gained 1 cent with 4,922 shares changing hands, Massy Holdings gained 1 […]
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[…] contributed 9,427 shares with a value of $124,928, to close 1 cent down, at $13.25, the price of Guardian Media shares declined by 1 cent to close at $19.75, with just 100 shares changing hands. Massy Holdings […]
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[…] and the Cross Listed Index remained at 41.57. Gains| Stocks increasing in price at the close are, Guardian Media with 63,036 shares trading for $1,245,591, gaining 1 cent, to end at $19.75. Prestige Holdings […]
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[…] International Bank traded 500 units at $5, Guardian Holdings trading 1,270 shares at $13.25. Guardian Media closed at $19.75 with 1,100 shares changing hands, Jamaica Money Market Brokers contributed 4,406 […]
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[…] at $3.75, Guardian Holdings contributed 10,387 shares with a value of $137,629, to end at $13.25. Guardian Media with 957 shares, closed at $19.77, Massy Holdings traded 35 shares at $68, National Enterprises had […]
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[…] of 4,159 shares valued at $95,699 advanced by 1 cents to end at $23.01, a new 52 weeks’ high. Guardian Media contributed 4,257 shares with a value of $84,161 to end at $19.77, up by 2 cents, for a 52 weeks’ […]
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[…] Investment Fund traded 400 share, advanced by 3 cents to end at $22.75, a new 52 weeks’ high. Guardian Media $50.00 6% Cumulative Preference closed at $65.01 while 20 shares were traded to gain 1 cent, for a […]
[…] and two stocks that will benefit from electioneering activities seemed to have come in for buying. Guardian Media and One Caribbean Media is expected to enjoy added income from increased advertising and circulation […]