One Caribbean Media Ltd's net profit up by 4%

One Caribbean Media Ltd's (OCM) net profit before tax has increased by four per cent from $12.5 million to $13 million.

Its earnings per share also grew to nine per cent, as reported in its consolidated unaudited results for the financial period ended June 30.

The company's revenues – $153.2 million – for the comparative period last year were four per cent less, owing to its renewable energy company completing and billing a number of projects in 2021.

The company also reported growth in both revenues and profitability in the broadcast media assets, while its non-media assets – investments in solar farms, internet services, manufacturing and real estate – also contribute to the group's financials.

OCM's management said in the unaudited results it continues to focus on implementing strategies aimed at enhancing revenue streams and realising improved cost efficiencies.