Ooh!media says post election business bookings have picked up

By Chris Pash | 16 May 2019
Brendon Cook

Out of home advertising group Ooh!media has reported a rise in business bookings post the federal election this weekend.

Adland has been reporting a weak market as advertisers pause their campaigns during the NSW election followed by the federal poll this weekend.

Standard Media Index (SMI) numbers have fallen for six months in a row. ASX-listed companies in the industry, including WPP AUNZ, have reported falls.

oOh!media, at its annual general meeting today, told shareholders it was sticking by its guidance made in February for underlying EBITDA (Earnings before interest, tax, depreciation and amortisation) of between $152 million and $162 million.

This forecast had taken into account a softening in the market in the second quarter.

“However, since Easter oOh! has seen increased activity for post election campaigns across multiple oOh! Formats,” says CEO Brendon Cook.

“We reconfirm our guidance.” 

By mid afternoon, Ooh!media shares were up almost 4.5% to $3.72. 

 

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