One Great Studio acquires DRT Communications in Kingston

 


One Great Studio Company Limited (1GS) has announced its strategic acquisition of the business of DRT Communications, a public relations and media intelligence firm, for a total consideration of J$115 million, which includes a J$35 million performance-based earnout over three years.


DRT is a media monitoring, communications and public relations business based in Kingston Jamaica. They offer strategic marketing management.

One Great Studio Company Limited (1GS) is also a marketing agency. This company successfully raised $338.63m in their Initial Public Offering (IPO) and is now listed on the Jamaica Stock Exchange’s Junior Market. The Company’s IPO opened on August 28, 2023, and closed on August 29, 2023, and saw 61 per cent over subscription of its initial share offer. Djuvane Browne, is Co-Founder and Chief Executive Officer.

For the quarter ended September 30, 2024, 1GS reported $86.1 million in revenues, with net profits of $7 million.

Management stated, “While year-over-year revenues have decreased, we are observing signs of stabilization in the SEO business segment quarter-over-quarter. The team’s proactive strategies to adapt to the changing technology landscape are showing positive results.”

The company reported total assets of $655.4 million, down from $663.9 million at the end of Q3 2023. Total equity increased by $14 million, or 2.4 per cent, while total liabilities fell significantly by $22.5 million, or 30.2 per cent. Credit Quality, Liquidity, & Cashflow At the end of the period, our cash resources (cash and investment) totalled $244 million.

1GS’ balance sheet currently shows only $16 million in debt, reduced from $24 million at the same time in 2023.

Photo: JSE. The listing of One Great Studio in 2023.

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