A regional media company is banking on the full return of carnivals, festivals and other entertainment events across the Caribbean to help boost earnings for the rest of its financial year.This was among the disclosures made by Faarees Hosein, chairman of One Caribbean Media (OCM) which is headquartered in Trinidad and Tobago but with media and other interests in Barbados and the Eastern Caribbean, in the Chairman’s Statement that accompanied the recently released consolidated audited results for the year ended December 31, 2022.Total group revenue for the year reached US$48.25 million (BDS $96.5 million), compared to US$45.24 million (BDS $90.48 million) for the 2021 period.Hosein told shareholders and other stakeholders that the group achieved “strong growth” in its media and non-media portfolios with a seven per cent increase in revenue and a 22 per cent rise in profit before tax.The upward trend in revenue and profits for the group is expected to continue for the rest of the year and the chairman outlined where OCM is expecting the boost.
