Adshel acquisition boosts Ooh!Media's digital revenue by 27%

By AdNews | 25 February 2019
Brendon Cook

Ooh!Media has posted a 27% increase in full year revenue to $482.645 million, but net profit after tax is down 4% to $31.6 million because of acquisition and merger-related costs.

Underlying profit, before the one-off costs, was up 18% to $51.1 million.

Digital revenue increased 27% to $288.1 million.   

The company says it continues to invest in talent and skills in core areas of data science, content, cyber security and client partnerships.

Ooh!Media acquired Adshel last year for $570 million. In September Ooh!Media completed the Adshel rebrand, renaming the out of home (OOH) furniture assets Commute by Ooh!

Ooh!Media CEO Brendon Cook says Commute revenue in the fourth quarter demonstrates the value of the street furniture and rail segments to its portfolio. 

“The acquisition of Commute brings the highly complementary segments of street furniture and rail to our portfolio," Cook says.

"This ensures Ooh!Media has the most diverse and integrated national audience delivery network in the industry, extending our audience reach to well above 90% of the Australian population, and the largest coverage in New Zealand. 

“Commute delivered strong revenue and earnings in the fourth quarter and we are successfully integrating the business with a new structure centred on serving our customers. 

“As out of home is being transformed by technology, we continue to lead the industry in creating a new media business driven by data, content and innovation." 

The company declared a fully franked final dividend of 7.5 cents a share, bringing the full year payout to 11.

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