APN Outdoor and Ooh! Media record double digit earnings growth, signal more acquisitions

February 22, 2016 1:05

Outdoor companies APN Outdoor (ASX: APO) and Ooh! Media (ASX: OML) have both posted strong financial results in their half-yearly results with the two main players in the space both posting double digit earnings growth.

APN Ooh APN Outdoor revenues lifted 20% to $300.8m while Ooh! Media’s revenues were up 7.3% to $279.8m while in earnings APN lifted its earnings on last year, 62% to $73.3m, while Ooh! was up 37.1% to $57.7m.

Both companies were buoyed by strong rises in digital revenues with APN’s digital rising 115% to $69.4m and Ooh! seeing a 47.6% increase in digital spending, to $89.2m but also signalled that they were still open to key strategic aquisitions.

“It’s always nice to smash expectations in the prospectus and now it’s onwards and upwards and we have bigger results to achieve this year”, Brendan Cook CEO of Ooh! Media told Mumbrella.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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