This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
MediaHouse Records Substantial Gain
Hamilton, Bermuda: August 8, 2007 - MediaHouse Limited recorded a profit of $1,104,388 - or $2.15 per common share - for the year ended September 30, 2006.
The company announced yesterday that the figure represented a net profit Increase of more than 300 per cent over the previous year.
MediaHouse Ltd - the Bermuda Sun's parent company - bounced back from a net loss of $483,593 for the year ended September 30, 2005.
During the year the company added MediaHouse ASP Ltd (ASP) to its group of subsidiaries.
Along with Bermuda.com Ltd, ASP will focus on e-business, providing products such as interactive mapping systems and e-directories, the firm said in a statement.
Mediahouse Ltd president and chief executive officer Randy French stated that because ASP's sales market is not confined by borders, "growth potential is limitless".
One of the firm's subsidiaries, Caribbean Publishing Company Ltd (CPC)
"Continues to excel in its Caribbean market," Mr. French said.
"Revenue growth has been consistent and strong throughout the Caribbean region and the board is proud of the world class directories being produced".
During the year, CPC opened its newest office in Jamaica. As a result of this expansion, the company welcomed 31 new employees to the group.
Revenues associated with this region's initial sales cycle will not be recognized until fiscal 2007, the company said.
CPC also rolled out 'On-Purpose', which is a framework for the development of a strong corporate culture and core value system.
Through this framework, the company strives to empower its people through a bottom-up approach, the statement said.