Media House Ltd. posted a profit of $3.4 million for the six months up to March 31, 2009 — a fall of $0.5 million compared to the same period a year before.

The company, which owns a number of printing, media and Internet concerns in the US and the Caribbean, as well as Bermuda, said earnings broke down to $6.89 per share, compared to $7.97 a year ago.

A large part of Media House's business is Global Directories Ltd, which has offices in 11 countries and produces 16 directories in the Caribbean, according to its website. In Bermuda it owns Island Press, the Bermuda Sun and Bermuda.com.

In a letter to shareholders, Media House said: "During this period, the global economic recession has dominated the economy. Although there have been many negative influences associated with this downturn and the company's results are down from the prior year, MHL's results for the opening six months of fiscal 2009 remain positive. MHL has aggressively worked to maintain its revenue targets while controlling its expenses."

General and administrative expenses fell $250,000, compared to the prior-year period, to $12.22 million, while income from operations plunged $830,000 to $5.56.

Media House declared a dividend of 50 cents per common share to shareholders of record at the close of business on 14 April, 2009.

"During this period of economic downturn, the board and management remain optimistic and they are encouraged by the company's success," the letter continued.