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OCM nets $15.95m in first quarter
One Caribbean Media Ltd (OCM) posted total comprehensive income of $15.95 million for the three months ended March 31, 2014. The company’s financials were released yesterday. OCM Chairman Sir Fred Gollop said: “The OCM Group produced satisfactory results consistent with expectations for the three months ended March 31, 2014. This compares favourably with the buoyant first quarter of 2013 which benefitted from parliamentary elections in the region.”
Group revenues of $121 million in the first quarter were “marginally less” than the $124 million in 2013, Gollop said. Profit before tax was $22.4 million as against $24.6 million achieved in 2013.
Although earnings and profit contracted, Gollop said: “We expect a positive second quarter and anticipate that growth will be maintained.” OCM is the parent company of the Express newspaper and TV6.