The RJRGLEANER Communications Group has reported a loss after tax of $264.7 million for the first quarter of its 2026 financial year.
That compares with a loss of $180.5 million dollars for the corresponding period last year.
The Group says, when one-off costs, including separation, restructuring, relocation and cyber incident-related expenses, are excluded, the normalised loss was $193.8 million.
Revenue for the quarter fell by 9.1 per cent to just over one billion dollars.
The Group says advertising revenue remained depressed, following Hurricane Melissa, although the Football World Cup provided a boost of about $122 million in June. It says the quarter was also affected by the usual slowdown in advertising spending ahead of the World Cup and the continued contraction of the advertising market.
RJRGLEANER says it continued to reduce costs, with operating expenses falling by six per cent to $665.3 million; however, finance costs increased by 32 per cent to $33.5 million.
The Group is pursuing several measures aimed at returning to profitability, including further cost reductions, increased digital monetisation, greater use of technology and artificial intelligence, and expansion of its digital broadcast platform.
RJRGLEANER says the restructuring of the Group is well advanced, while the consolidation of its North Street and Lyndhurst Road operations is expected to generate further savings.
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