Guardian Media profit falls sharply since 2014.
A sharp fall in sale revenues in 2017, at Trinidad’s Guardian Media left the company hugging a small loss for the year ending December, according to an abridged quarterly report.
Profit dropped 94 percent in the 2017, to TT$488,000, for the December quarter before tax, from $8.5 million in 2016, but rose to $1.9 million after a tax credit of $1.4 million from a net profit of just $400,000 in 2016. For the year, the media house recorded a loss of TT$3 million after tax, from a profit after tax of $6.3 million in 2016, resulting in negative earnings per share of 8 cents.
Revenues fell 20.6 percent in the December 2017 quarter to TT$36 from $45 million and 16 percent to TTS$138 million from $164 million for the year.
The 2017 results is in stark contrast to 2015 when the company posted $35 million after tax and TT$34 million in 2014 from revenues in excess of $195 million for both years.
Cash flow brought in amounted to TT$20 million but capital payments and investments activities including paying $24 million in dividends used up $27 million, leaving cash at $72 million. Shareholders’ equity at the end of December, stood at TT$278 million, down from $305 million in 2016. Current assets ended the year at TT$131 million well ahead of current liabilities of TT$49 million.
According to the company’s chairman Peter Clarke, in his report included with the results, “2017 was a year of transition for Guardian Media as it implemented a number of planned structural changes. These changes included: (1) print automation systems to improve efficiency; (2) internal restructuring to lower the cost base and further improve the efficiency and quality of content creation and (3) re-alignment of teams to better serve our customers and fully equip the company for the digital media landscape. The one-time costs of these changes are reflected in these results. Parallel to this, the country’s economic slowdown has had a considerable impact on advertising spend across all sectors.”
The stock last traded at TT$17.98 in November on the Trinidad and Tobago Stock Exchange (TTSE), but now has an offer at $16.38. Net asset value is TT$6.66 per stock, with the stock offered for sale at 2.46 times book value. The company is a subsidiary of Ansa McAl which is also listed on the TTSE.
Market activity on the Trinidad & Tobago Stock Exchange ended on Tuesday with trading in 19 securities with 4 trading 5 units or less, against 16 trading on Monday. The market closed with 3 stocks advancing, 1 declining and 15 remaining unchanged. 
First Caribbean International Bank ended at $9.30, trading 946 shares. First Citizens finished at $32.10, trading 3,108 shares, Grace Kennedy closed trading at $3.40, with 161,520 units, Massy Holdings ended at $47, with 25,428 stock units changing hands. National Enterprises finished at $9.65, with only 5 units trading. National Flour completed trading at $1.90, trading 845 shares, NCB Financial Group closed at $6.60, trading 22,620 shares, Point Lisas concluded trading at $3.81, with 29,514 units, Sagicor Financial traded 2,150 units at $7.82, Trinidad Cement closed at $3.50, trading 16,036 shares and West Indian Tobacco finished at $88.50, with 11,883 stock units changing hands.
Market activity on the Trinidad & Tobago Stock Exchange ended on Thursday, with trading in 15 securities, against 16 on Wednesday, with 2 stocks advancing, 6 declining and 7 remaining unchanged. 
Sagicor Financial closed with a fall of 1 cent to $7.89, with 2,565 units changing hands. Scotiabank finished 69 cents lower to close trading at $61.31, with 1,005 stock units changing hands, Trinidad & Tobago NGL shed 3 cents and ended at $26.51, with 10,323 units and West Indian Tobacco finished trading with a loss of 1 cent and ended at $88.50, with 2,650 stock units changing hands.
Prestige Holdings rose by 1 cent to finished at $10.50, trading 17,643 shares and Scotiabank jumped $1.85 and finished at a 52 weeks’ high of $63, with 1,000 stock units changing hands.
One Caribbean Media share fell 85 cents and finished with $13.15, with 523 stock units, Trinidad Cement closed with a fall of 10 cents at $3.75, trading 300 shares and West Indian Tobacco finished 48 cents lower at $88.50, with 1,204 stock units.
Losses| Ansa Mcal concluded trading with a loss of 50 cents in closing at $62.49 with 1,052 units, Clico Investments traded with a loss of 19 cents to close at $20.81 with 32,224 units trading valued at $673,099, National Enterprise fell 1 cent to $9.79 with 2,200 shares and Trinidad & Tobago NGLsettled with a loss of 50 cents at $26 with 27,060 shares with a value of $705,870.
Gains| In trading, Trinidad & Tobago NGL rose $1.65 to close at record high of $27.57 trading just 704 shares. The chart of price movements for this stock is very bullish with a breakout of a wedge formation.
After a long drawn out period when investors were felling out each other to try and get the best price for stocks, finally, patience seems to have worn thin, as the prices of several stocks were finally allowed to trade lower than the asking prices a month or two ago.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 2 stocks with bids higher than last selling prices and 4 with lower offers.
At the close of trading market activity resulted in 11 securities changing hands compared to 14 on Thursday with 3 stocks advancing, 2 declining and 6 holding firm as 165,628 shares traded at a value of $2,492,376 compared to Thursday’s trades of 221,067 valued at $3,013,733.
Guardian Holdings closed at a 52 weeks’ high of $18, after rising $1.45 and trading 69,236 shares valued at $1,192,342 and Sagicor Financial traded 4 cents higher to $7.95 in exchanging 13,000 shares.
Point Lisas fell 1 cent to $3.89 with 11,128 shares changing hands, Prestige Holdings ended with a loss of 5 cents, at $10.70 with 1,000 units, and Sagicor Financial traded 4 cents lower to $7.91 with 73,828 shares valued at $584,108.
