NAME OF FEATURE | THE GLEANER | FRIDAY, SEPTEMBER 13, 2024 26 THE GLEANER 190TH ANNIVERSARY FEATURE Published April 25, 2000 THE EDITOR, Madam: JESUS 2000 was an evident success but I cannot afford to forget the kindness and the support that The Gleaner Company has given to the concert. The press has been one of the most effective means of promoting our cause and you have always been there to lend us a page or two for our promotions. In our marketing survey, The Gleaner has always maintained that integrity and advertising efficiency in disseminating information such as ours. Kudos to you and to the staff members! Every fibre of success in this concert has a ‘Gleaner’ trademark in it! RAYMOND DELA CRUZ, MOP Marketing manager Kudos to Gleaner, from Jesus 2000 Published May 10, 2002 THE GLEANER Company Group saw encouraging growth in its earnings during the first quarter ending March 31, 2002, with after-tax profit increasing by about 36 per cent from $18.2 million in 2001 to approximately $24.8 million in 2002. Over the same period, revenue increased by 20 per cent to $470 million, largely attributed to an increase in advertising and circulation revenue. The cost of sales was up 18 per cent to almost $250.8 million, while gross profit increased by 22 per cent to $219.2 million. The Gleaner’s Financial Director, Christopher Roberts, said, however, that the company might not be able to maintain the first-quarter profit trend for the remainder of the financial year. Mr Roberts mentioned that the company’s fortunes would depend on the price of newsprint, which increased by about 35 per cent in the year 2000, continued to rise during part of last year, and has since started to trend down. He was presenting the financial statements and results for the year ended December 31, 2001, as well as the first quarter unaudited results during the Gleaner Group’s annual general meeting at its North Street office in downtown Kingston yesterday. For the year to December, advertising revenue went up by $164 million to just over $1 billion, largely because of a 10 per cent increase in advertising volume. An increase, largely attributable to an increase in circulation volume, added $60 million or a 12 per cent increase to the $506 million earned from that source last year, Mr Roberts said. He added that advertising and circulation revenue continued to grow, despite competition from the electronic and print media. Books and stationery sold by The Gleaner’s wholly-owned subsidiary, Sangster’s Book Stores, increased by $41 million, largely attributed to growth in retail sales and in particular children’s books. The Gleaner’s chairman and managing director, Oliver Clarke, told shareholders that the company had not achieved the growth in profits last year that was hoped for, but he remained optimistic that this year would be better. Earlier, Mr Roberts informed the meeting that the net book value of the company increased by 85 per cent over the past five years, from $676 million at the end of 1997 to more than $1.2 billion at the end of last year. Interestingly, he said that based on yesterday’s market price of $2.50 per share, the market value of the company was over $2 billion, which was in excess of the book value of about $1.3 billion. Managing Director of the Gleaner Online, Marlene Davis, said the company’s Internet business continued to grow, exceeding 50 million hits a month and reaching the three million mark in terms of page views per month. Mr Clarke mentioned that although Go-Jamaica was not a major contributor to the bottom line of the company at this time, it had the potential to become one. The Gleaner’s subsidiary, Independent Radio Company, operator of Power 106 radio station, has also started to make its impact on the company’s revenue base from the two new programmes, ‘Nationwide’ and ‘Perkins on Line’, said General Manager Newton James. Mr James noted that Power 106 was poised to increase profitability due to its new format of transmitting talk programmes 24 hours a day, seven days a week. He also mentioned that a new music station would become operational within another six weeks. Mr Clarke said that while the company’s investment in Power 106 had not been a major profit centre when it started, it was now beginning to show promise. In his outlook for the remainder of the year, Mr Clarke stated that the company was working to improve the profitability of its core operations by boosting sales of its publications and increasing advertising revenue. Re-elected to the board of directors during yesterday’s meeting were retiring directors Joseph M. Matalon, Morin Seymour, and Lisa Johnston, as well as Dr Carol Archer, who was appointed to the board last December. Gleaner records encouraging first quarter growth LAUGH A LITTLE WITH LEANDRO Cuban revolutionary leader Fidel Castro holds aloft a painting done by a José Martí Secondary pupil (right) as a gift to him. Second from right is Lenor Carlos Rafael Rodriquez, president of the Council of State responsible for the Americas, in 1977. FILE IMPORTANT HISTORIC VISIT
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