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At GML’s recently concluded AGM held at Kapok Hotel, Managing Director, Mr Nicholas Sabga announced a new corporate social responsibility in the area of recycling that is currently being tested internally. He said that GML wanted to change attitudes about recycling and plans to eventually broaden the initiative to the wider public, including shareholders.
At the company’s AGM, Chairman, Mr Peter Clarke disclosed that during the financial year, the company generated TT$19 million in operating cash, while total assets amounted to TT$354 million. He acknowledged that the country’s economic slowdown had a considerable impact on advertising spend across all sectors, a local reflection of a global down turn in traditional media advertising.
Revenues reported were TT$138 million (TT$164 million – 2016), reflecting a decline of sixteen per cent, whilst a before tax loss of TT$2.2 million (TT$16 million profit – 2016) was incurred. Mr Clarke revealed that GML had implemented several planned structural changes necessary to remain competitive, including a redesign of the newspaper.
Revenue from television rights for the World Cup is expected to improve GML’s financial position in 2017. CNC3 is currently broadcasting live football in high definition on television and digital platforms, together with radio commentary, multimedia content and full newspaper coverage of the event.
Corporate Communications Department
ANSA McAL Group of Companies
Wednesday 04th July, 2018