{"id":21530,"date":"2024-07-27T02:37:48","date_gmt":"2024-07-27T02:37:48","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=21530"},"modified":"2024-07-27T02:38:51","modified_gmt":"2024-07-27T02:38:51","slug":"ncn-reports-33-1-increase-in-revenue-for-2022-despite-net-loss","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/ncn-reports-33-1-increase-in-revenue-for-2022-despite-net-loss\/","title":{"rendered":"NCN Reports 33.1% Increase in Revenue for 2022 Despite Net Loss"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>The National Communications Network (NCN) reported a notable increase in revenue for 2022, according to its audited financial report presented at the Annual General Meeting (AGM) held today at the Arthur Chung Conference Centre.<\/p>\n\n\n\n<p>NCN&#8217;s revenue for 2022 rose to GYD 350.9 million, up from GYD 317.7 million in 2021, reflecting a significant increase of 33.1 million dollars or 33.1%. <\/p>\n\n\n\n<p>This boost was largely driven by improved revenues from news programs and sports sponsorships.<\/p>\n\n\n\n<p>Despite the increase in revenue, the company faced a net loss after taxation of GYD 3.86 million. <\/p>\n\n\n\n<p>This represents a dramatic decline of 105.77% in profit after taxation compared to a profit of GYD 66.93 million in 2021.<\/p>\n\n\n\n<p>Chairman Raymon Cummings acknowledged the revenue growth but also highlighted the company&#8217;s financial challenges.<\/p>\n\n\n\n<p>Kwame McCoy, Minister of Public Affairs within the Office of the Prime Minister, emphasized the importance of NCN&#8217;s role in public education and entertainment. <\/p>\n\n\n\n<p>He encouraged the management and staff to continue their efforts despite facing criticism and scrutiny.<\/p>\n\n\n\n<p>This marks the third consecutive year that NCN has presented its annual financial report, underscoring the company&#8217;s commitment to transparency and accountability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Communications Network (NCN) reported a notable increase in revenue for 2022, according to its audited financial report presented at the Annual General Meeting (AGM) held today at the&hellip;<\/p>\n","protected":false},"author":4,"featured_media":21545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[350],"tags":[],"class_list":["post-21530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/21530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=21530"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/21530\/revisions"}],"predecessor-version":[{"id":21546,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/21530\/revisions\/21546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/21545"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=21530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=21530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=21530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}