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Half year results show improved revenues for GML

Saturday, August 9, 2014

Guardian Media Limited (GML) has recorded a 2.4 per cent improvement in revenues for the half year ended June 30. Unaudited results published yesterday show revenues of $96.1 million, an increase over the $93.8 million earned in the corresponding period last year. GML chairman Grenfell Kissoon said the increase represents a full recovery from the revenues deficit the company experienced in the first quarter of the year.

“We expect this trend to continue to the the end of the year,” he said. Profit before tax was $14.7 million—19.2 per cent less than last year’s figure of $18.2 million. Kissoon said this was the result of programming and related content investments as well as higher operating costs. He said the GML board of directors is confident that 2014 financial projections will be achieved based on current investments, plans and strategies.