Guardian Me­dia Ltd (GML) yes­ter­day re­port­ed af­ter-tax prof­it of $6.74 mil­lion in the fourth quar­ter of its fi­nan­cial year end­ed De­cem­ber 31, 2024, an in­crease of 71.3 per cent com­pared to the $3.93 mil­lion the me­dia house de­clared for the same pe­ri­od in 2023.

In the com­pa­ny's au­dit­ed re­sults for the year end­ed De­cem­ber 31, 2024, GML chair­man Pe­ter Clarke not­ed that for its 2024 fi­nan­cial year, the com­pa­ny re­port­ed a loss be­fore tax of $2.9 mil­lion, 77 per cent low­er than the pri­or year loss of $10.6 mil­lion.

GML's rev­enue for 2024 was $97.9 mil­lion or 1 per cent low­er than 2023.

"The chal­lenges we faced in 2023 with shrink­ing ad­ver­tis­ing bud­gets and dig­i­tal mar­ket dis­rup­tions con­tin­ued in 2024. Man­age­ment worked dili­gent­ly dur­ing the year to nav­i­gate the chang­ing lo­cal mar­ket en­vi­ron­ment," Clarke said.

"We have re­vised our mul­ti­me­dia rev­enue mod­els, stream­lined busi­ness op­er­a­tions and func­tions, man­aged con­trol­lable costs and re­duced work­place in­ef­fi­cien­cies to achieve de­liv­ery of en­hanced share­hold­er val­ue."

Clarke not­ed there were high­lights dur­ing the pe­ri­od.

He said, "Dur­ing the year our One News­room launched a spe­cial Guardians of the Peo­ple seg­ment which was well re­ceived by our con­sumers. We con­tin­ued to de­liv­er our sta­ple pro­duc­tions such as Spell­bound and Make Your Point which pro­vid­ed both ed­u­ca­tion and en­ter­tain­ment for our au­di­ences. To cap the year off, we shared in BIG wins for GML at the Telecom­mu­ni­ca­tions and Broad­cast­ing In­dus­try Awards 2024. GML cap­tured four of the ma­jor awards, in­clud­ing In­no­v­a­tive Broad­cast­er, In­no­v­a­tive Ser­vice Of­fer­ing, Tech­no­log­i­cal Dis­rup­tor and Ra­dio for the Peo­ple."

He said that in spite of the chal­lenges faced by the in­dus­try, GML's busi­ness trans­for­ma­tion plan has helped soft­en the blow."