GUARDIAN Media Limited (GML) has reported an after-tax loss of $8.94 million for the first six months of 2019.
This represents a 92 percent increase in loses compared to the last year when it recorded loses of $4.66 million, according to the unaudited financials.
GML’s newspaper the Trinidad and Tobago Guardian reported a loss before taxation of $6.86 million for the same period whereas in 2018 it made a pre-tax profit of $1million.
Its third-party revenues declined by 14.7 percent, falling to $52 million for the half year, compared with $60.9 million in 2018.
Both the newspaper and its multi-media segment experienced declining revenues for the first six months of 2019, the unaudited financials showed.
In a statement accompanying the unaudited financials, GML chairman Peter Clarke referred to his 2018 year-end statement to shareholders that dividend payments will resume once the company returns to profitability.
He added, “Given the loss position, a 2019 interim payment will not be recommended by the board in respect of the six months ended June 30, 2019.”
