SYDNEY: Outdoor media owner Ooh Media Group has reported a 36% rise in half year sales revenue to $50.6 million, double that of the outdoor industry.
The Outdoor Media Association reported 15% revenue growth for the six months to June 30 2010. The firm said net profit after tax more than doubled to $2.6 million compared to the previous corresponding period.
Chief executive Brendon Cook said it was the seventh consecutive half of increased revenues and profits: “While most media companies took a hit during the Global Financial Crisis and are now just regaining ground, we have continually delivered growth.
“We will continue to deliver strong revenue growth by implementing our growth strategy, upgrading inventory, educating advertisers, offering focussed products and implementing successful direct and agency sales activities.”
Cook said revenue growth was also a direct result of increased advertiser confidence due to improved economic conditions.
“We expect advertiser confidence to grow further as the MOVE out-of-home audience measurement system gains more traction, and out-of-home advertising continues to grow faster than other traditional media.
“The momentum of the business is going from strength to strength and this is evident by the strong forward bookings within the next 12 months.”
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