OCM profits from diversification

One Caribbean Media (OCM) is receiving continued financial rewards from a strategic decision to diversify its operations.

The chairman’s statement by Faarees Hosein highlighted this as he reported that the group earned net profit before tax and impairment of US$2.6 million, which is two per cent above last year, and revenue of US$44 million, one per cent less than the prior year.

His statement accompanied the Trinidad and Tobago-based entity’s consolidated audited results for the financial year ended December 31, 2025.

Hosein’s statement first addressed the performance of media entities within OCM, which include The Nation Group in Barbados.

“In February 2026, Stabroek News, Guyana, announced that it was pursuing voluntary liquidation, resulting in an impairment charge of US$146 000 being taken. This charge represented our 20 per cent share of the company,” he said.

“Our Trinidad media business was negatively impacted by a significant fall-off in advertising in the second-half of the year. However, our Media business in both Barbados and Grenada continued to report strong financial performances.”

The chairman then shared that the group “continued to benefit from its diversification strategy with our non-media segment delivering growth and a positive profit contribution”.

Roll-out of fibre programme

“Green Dot, our Internet services company, made significant progress with the roll-out of its fibre programme which supported growth of its customer base in new areas. This programme will continue in 2026 along with the expansion of its Internet Protocol TV services,” he said.

“Our packaging plant Flexipac successfully commissioned two new pieces of equipment in the second half of the year. This capital investment has strengthened the company’s ability to grow its forex earnings. Additionally, focus is being given to achieving even higher levels of plant efficiency.”

Hosein said the group’s efforts “continue to adapt its business models to the changing market conditions”.

“Accordingly, strategies are being implemented to ensure sustainable growth for all of our businesses,” he stated.

“The board is grateful for the unwavering dedication from our employees who have worked tirelessly and demonstrated tremendous commitment. We are also thankful to all of our stakeholders for their continued loyalty.”

The chairman added that “based on the group’s performance, the board has declared the payment of a final dividend of TT$0.04 bringing the total dividend for the year to TT$0.06 payable on July 31, 2026”. (SC)

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