One Caribbean Media has reported an increase in profits for financial year 2021.
Chairman Faarees Hosein called 2021 “a year of recovery from the adversity of the first year of the COVID-19 pandemic as the company reported Revenues of $307 million and Profit Before Tax of $27.4 million in 2021.”
This represented an increase by 124% from $12.2 million recorded in 2020. Profit Before Tax and Impairment increased by 22% from $24.1 million in 2020 to $29.4 million in 2021, the report stated.
Hosein said the company’s Non-Media assets, which include Information and Communications Technology (ICT) and Renewable Energy investments made a healthy contribution to the group’s performance.
He, however, noted that the company’s media assets, which were the most affected by the pandemic, also recovered over the course of 2021.
