oOh!media shares rocket

Chris Pash
By Chris Pash | 4 December 2019
 
Getty

Share in oOh!media surged by as much as a quarter after the out of home group announced improved earnings guidance

A short time ago, the shares were up 24% to $3.735.  

The company now expects underlying EBITDA (earnings before interest, tax, depreciation and amortisation) to be between $138 million and $143 million.

This is an improvement on the guidance given in August of $125 million to $135 million.

oOh!media, which had now been a beacon of light in a tough advertising market, saw a fall in bookings post the close of the financial year for its big roadside billboards.

But the fourth quarter has seen a pickup.

"While the company’s advertising bookings declined in the third quarter versus the prior year, improved bookings for September and the fourth quarter, which have paced positively over the prior year, have resulted in an upgrade," says oOh!media in a trading update.

oOh!media share price

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