AS we prepare to usher in 2014 with hopes and expectations of a successful and prosperous year, it is incumbent upon us to reflect on our past achievements and failures.For me to do this however, I would have to start at the beginning of my tenure as Chairman of the Board of Directors of the Guyana National Newspapers Limited (Chronicle Newspaper).

On my assumption of the Chairmanship, the Company was badly rundown and in dire financial straits. In addition to realising a loss in that year, chaos and indiscipline reigned with regular late press being the norm. Productivity was well below the budgeted levels while wastage (spoils) in the production department was very high – over 15% of normal output. Coupled with these problems were the obsolete equipment with which staff had to work, the dilapidated furniture in all the departments and a floor level which was so low that it was prone to flooding on every occasion that it rained. A staff audit revealed that practically all the departments were overstaffed.
With all these problems, the Board and Management had a herculean task to turn around the fortunes of the company and at the same time provide a habitable working environment. This we did quite successfully, as in the very next year a profit was realised. Since then, this has been the trend except for two years when, because of high raw material prices, we were unable to attain our budget.
We have to a large extent eliminated the threat of flooding, while our equipment and furniture were upgraded, in some cases with state of the art technology. We have also managed to reduce the percentage of waste (spoils) to under 5% of production levels and, at the same time, eliminate the perennial bugbear of late press. For this, we have to thank the former and current Presidents for their understanding and willingness to support us.
Our task was not easy due to the environment in which we operated. Our every decision and action was viewed with hostility and perceived in political circles as favouring our major shareholder. We were even subjected to attacks and criticism from other journalistic entities. This notwithstanding, we have continued to provide unbiased coverage of the news and enjoy a cordial relationship with our competitors, giving and receiving assistance at certain crucial times.
As in previous years, our company has enjoyed a successful 2013. This was only possible with the hard work and dedication of our management and staff, since we continue to operate in a fiercely competitive and challenging environment, with a number of new radio stations coming on stream and competing for the same advertising dollars.
Our production costs have also been affected by the world market prices for newsprint and other raw materials, which are steadily rising, while locally it is the same with the cost of goods and services.
Inspite of these challenges, we have continued to maintain our usual high standards in terms of content and quality. If anything, the quality of our newspapers has improved enormously with the acquisition during the year of a computer to plate (CTP) device. This equipment would also enhance our production time, enabling us to go to press much earlier.
We have continued to embrace the development approach to journalism and thus our focus on people-centric stories and development projects. Our coverage of activities and village life in various parts of the country has been very successful and we plan to make it a permanent feature in our Sunday Pepperpot.
Following complaints by users, we have upgraded our web-site to make it more user-friendly. Coupled with this, is the launch of the Chronicle E-paper which enables internet users to read the entire Chronicle newspaper on line. This is a major step in our drive to be technologically competitive.
Our Quiz Game continues to be a common source of competition for Grade 6 and lower level students, while providing a platform for children to be computer literate. We expect an increase in the number of students competing in the Quiz Game in 2014.
In terms of staff welfare, we have paid a 5% bonus in 2013 and will pay a salary increase in the New Year. This was done, in spite of constraints in our cash flow. Our policy of staff reduction by attrition continued and we have not unilaterally severed any of our employees. We continue to enjoy cordial relations with the CCWU- the Union representing our employees, and provide free space for the Canteen and Sports Club.
We have attained most of the goals we set ourselves in 2013 and have no illusion about 2014. I expect the Board, Management and Staff to continue their hard work to maintain and even surpass the level of efforts in past years. In this regard, we look forward to the continued support of all our customers and friends and our major shareholder.
Finally, I would like to extend on behalf of our Board and Management, best wishes for a Happy and Prosperous 2014 to all our customers, advertisers, vendors, major shareholder, readers, the Union, friends and well-wishers and their family. I also wish to thank you for your support, loyalty and co-operation during 2013 and look forward to working with you in the New Year.

Happy New Year.