Main Event annual profit up 2.7 per cent


Main Event annual profit up 2.7 per cent

Business reporter

Wednesday, April 01, 2020

Print this page Email A Friend!

Main Event Entertainment Group Limited (MEEG) on Tuesday (March 17) reported an after-tax profit of $97.3 million for the financial year ended October 31, 2019, a 2.7 per cent increase when compared with the corresponding period in the previous year.

This increase, according to MEEG, was influenced by increased business activity and sustained market share.

For the period under review, revenues amounted to $1.8 billion, an increase of 29 per cent over the $1.4 billion recorded in the corresponding period in 2018. This growth was due to the double-digit gains in core revenue categories, as well as the company's presence in western Jamaica and the growth of the M-Academy project during the year.

M-Academy refers to the training arm of MEEG, which provides certification in marketing, events management and production.

“Segment results showed that revenue from the MEEG's entertainment promotions operations stood at $1.25 billion, which accounted for almost 70 per cent of the overall $1.8 billion in revenue. This segment grew revenues by $218.5 million year on year due in part to an increased marketing spend from major clients,” the company stated.

The second-highest revenue segment was audio and film operations which earned $268.2 million up from the $222.1 million recorded in the previous corresponding period. This segment represented 15 per cent of total revenues.

MEEG's total asset increased by 9 per cent to $1 billion for the period under review, while earnings per share ended at $0.33.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:

6. If readers wish to report offensive comments, suggest a correction or share a story then please email:

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon