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I begin this statement to our shareholders with grave concern around the COVID-19 pandemic which is casting a dark shadow over people%u2019s health. We pray for the survival and quick recovery of those affected and highlight the efforts of our leaders and healthcare providers around the world who continue to fight relentlessly against the virus. As always, in times of emergency, media must step up to serve our communities. We salute our employees for their valiant efforts to keep people informed, healthy and safe through the airing of public service announcements, educational programming and expanded local news coverage in efforts to help save lives and battle the outbreak.During 2019, our Company continued to make progress against its stated objective of transforming our business from a traditional media house to a multi-media house. Consistent with the industry, our performance was largely impacted by a challenging economic environment and changing business landscape due to the digital revolution. We continue to make investments that will support medium and long-term growth. This year, we invested in improving our sales and service capabilities, transformed our editorial relevance and appeal, filled key talent gaps, strengthened leadership competencies at middle and senior management and continued targeted training across the organization. I am confident that the successes in 2019 have positioned the business to navigate the challenging market landscape and return to profitability. A full year loss is reported notwithstanding inclining trends in sales performance in the third and fourth quarters. For the year ended December 31, 2019, Guardian Media reported a net loss of $5.6 million compared to a $2.3 million loss in the prior year. Total comprehensive income amounted to $2 million compared to a loss of $2.9 million in 2018 due to an increase in the fair value measurement of defined benefit plans. Revenues reported for the year ending December 31, 2019 were $120.3 million ($128.3 million %u2013 2018) reflecting a decline of $8 million or 6% in advertising revenues. Despite the challenges outlined above, our balance sheet metrics remain healthy and our capital levels provide us with the strength to endure challenging times as well as to invest in the future. Management remains focused on driving efficiencies and continually reducing controllable expenses.As we continue to pursue our strategic priorities, the Company recorded some significant successes this year and I remain confident about the Company%u2019s future. Significant work was done to reconfigure our commercial approach this year to maximize opportunities in the market. We invested in the improvement of our sales and service capability and have a new energized salesforce. As a result, we achieved a solid improvement to our sales performance with a 16% growth in third quarter sales followed by a 19% growth in fourth quarter sales. Our focus as we move forward continues to be our relationships with our clients and audiences.We successfully implemented a cover price increase from September 1st which will contribute to offsetting the continuing rise in production costs. This success stemmed from our focus on delivering deeper and more engaging content in both entertainment and current affairs to our audiences. Our newsroom was fully integrated by the end of the first quarter with newspaper and television journalists sharing the same space. We are excited by the opportunities from our Integrated Newsroom which has enabled greater collaboration and multi-media journalism through optimizing cross media synergies between TV and Print reporters. In Print, we have invested in outsourcing international expertise this past year to strengthen our editorial capability and filled talent gaps in investigative reporting. The Guardian is the fastest growing newspaper. We have achieved highest readership in Trinidad and Tobago, according to latest independent newspaper survey results.Another positive development for your Company was the successful launch of Guardian Media Community Project in the areas of Chaguanas, Sangre Grande, Princes Town, Arima, Port of Spain and San Fernando in August and September. Scores of our staff members participated with each community to host six community family day events. We successfully collaborated with businesses and residents of each community to launch a community paper and hold community talks. 2019 saw CNC3 investing in providing new and creative product offerings to continuously differentiate itself as the television market grows more competitive. We successfully brought the 2019 Hero CPL T20 Caribbean Premier League to our audiences and maintained our lead position in news and primetime. Investments were made in 2019 to strengthen the content and market alignment of our highly recognizable radio brands in the urban, mainstream, traditional and religious markets. Digital successes to date include wider reach to our audiences GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019 9