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Radio Jamaica Ltd records lower profit for 2022/23

 
Radio Jamaica Limited realised a dip in profit for its 2022/2023 financial year ended March.
 
For the 12 months, the company, which operates as the RJRGLEANER Communications Group, made $197 million after tax.
 
That's compared to the $342 million made for the 2021/2022 year.
 
RJRGLEANER's profit was supported by a $444 million bargain gain, coming out of its acquisition of 1834 Investments.
 
The deal, which closed in November last year, brought about $1 billion in cash and assets into the group.
 
The company's revenues also dipped, coming in at $5.44 billion versus $5.71 billion.
 
Looking at business segments, Audio/Visual, which includes TV, earned 10 per cent less, while Radio dipped by three per cent.
 
This was, however, offset by a $27 million or one per cent improvement in earnings for the Print and Online Division. 
 


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