of $160,845, up 30 percent on the previous year's results.

The company's annual report released yesterday also showed its operating income was up from $51,383 in 1997 to $93,621 last year.

President and director Fernance Perry and CEO Ulric Richardson issued a statement with the report that the BBC was maintaining "stable'' results as the dynamics of the television business changed "at an astonishing rate''.

"We completed the year in the break-even position on the operation with the combined airtime and production revenue of $3.89 million compared with $3.79 in 1997,'' they said.

But they admitted the company was still overcoming bad debt. "The BBC has once again grappled with the problem of bad debt and ageing accounts receivables and once again, we have seen how this has affected the income from the operation.

"To this end, steps will be taken to review our contractual agreements with respective clients, with a view to minimise the risk taken by the company.

"Management continues to address this problem and can assure shareholders that additional controls will be implemented.

"Management will also underscore the need to have an appropriate signature from advertisers before proceeding with significant campaigns and extensive products.'' BBC posts rise in net income New projects for the BBC -- which has radio and television broadcasting operations -- include the development of a cable system as a subsidiary which would operate from its cable facility at Southside in St. David's.

Also on the drawing board is a scheme that would see the BBC provide a new and expanded weather feed to the ports of entry for cruise ships.

"For the merchants in Hamilton particularly, this will be a unique and immediate method of reaching the cruise ship passengers before they go ashore,'' the report said.

"And for the BBC, it will provide an entirely new business opportunity and a means by which we can deliver a new and greater audience to our clients.'' BUSINESS BUC