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oOh!media shares up after FY profit boost

Melissa Jenkins  |  19 Feb 2018Text size  Decrease  Increase  |  
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MELBOURNE - [AAP] Shares in oOh!media (ASX: OML) have climbed 5.4 per cent after its full-year profit grew by more than one third to $33.2 million.

The outdoor and digital advertiser's profit for the 12 months to December 31 has climbed from $24.9 million a year earlier, due to a 13.1 per cent boost in revenue, fuelled by strong organic growth and acquisitions.

oOh!media shares were trading up 5.4 per cent at $4.66 at 1128 AEDT.

Almost 60 per cent of oOh!media's revenue comes from its digital portfolio.

oOh!media has 8,000 digital panels across Australia and New Zealand, 12,000 classic panels and eight online platforms.

Chief executive Brendon Cook on Monday said the company was growing quicker than the rest of the so-called Out of Home advertising sector.

"We're growing our business faster than the Out Of Home market by continuing to lead the market in delivering innovative solutions for clients to integrate data and content as part of our audience-led strategy across our network," he said.

Mr Cook said oOh!media had been trialling the use of advanced data capabilities with selected clients, which would be fully rolled out this calendar year.

"We are really transforming the platform for out of home; systems that out of home companies operate (on) in the past are not going to be good enough for the future," he said.

"That's one of the reasons we started early to not just transform data for advertisers and data for systems, it's transforming the whole way an 'out of home' company operates."

Revenue improved by 10 per cent and 15.7 per cent in its road and retail segments, respectively, but dipped 1.8 per cent in its fly division and was down 2.2 per cent in New Zealand.

The company forecasts earnings of between $94 million and $99 million for the year to December 31, 2018.

OOHMEDIA! PROFIT UP MORE THAN ONE THIRD

* Net profit up 35.5pc to $33.2m

* Revenue up 13.1pc to $380.3m

* Final dividend up half a cent to 10.5 cents, fully franked, for full-year payout of 15 cents

 

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© 2020 Australian Associated Press Pty Limited (AAP) or its Licensors. This is the Morningstar service with content provided by AAP where indicated. AAP reserves all rights, including copyright, in services provided by it. The information in the service is for personal use only, does not constitute financial product advice (whether general or personal) and may not be re-written, copied, re-sold or re-distributed, framed, linked or otherwise used whether for compensation of any kind or not, without the prior written permission of AAP. You should seek advice from a professional financial adviser before making decision to acquire or dispose of a financial product.

This service is published for general information purposes only without assuming a duty of care. AAP is not in the business of providing financial product advice (whether personal or general advice), and gives no warranty, guarantee or other representation about the accuracy of the information or images contained in this service. AAP is not liable for errors, omissions in, delays or interruptions to or cessation of the services through negligence or otherwise. The globe symbol and "AAP" are registered trademarks.

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