Good news for oOh!media
oOh!media Group indicates that its acquisition and growth strategy during the past five years is set to deliver a record operating result for 2008.
The preliminary 2008 full-year results, which are in the process of being audited, show a record full year net profit after tax of $3.4 million – an increase of $3 million on the previous year.
Commenting on preliminary results, oOh!media CEO, Brendon Cook, says the company’s expansion of its out-of-home inventory had placed it in a position to increase its market share in the $453.8 million outdoor media industry.
Company sales revenue was up 36% to $75.5 million and on a like-for-like basis – excluding the company’s acquisitions such as Sports and Outdoor Media – sales revenue for the full year was up 23%, almost six times more than the total outdoor advertising industry, which posted an annual increase of 3.9%.
“oOh! is in a better position than most media players. Over the past five years we have invested in creating a new retail and regional offering – which included changing the look of these mediums and the way clients use them – and improving our extensive network of roadside infrastructure in metropolitan markets,” explains Cook.