Profit drops 23% at Ooh Media, but revenues hold strong despite ‘challenging media market’
After reporting a 94.4% slide in profits for the first six months of the 2019, outdoor advertising business Ooh Media has seen a slight improvement for the full year, thanks largely to a strong fourth quarter, reporting a revenue increase of 1% to $649.6m.
Underlying net profit after tax (NPAT) fell 23% on the prior year, down to $37.9m, while earnings before interest, tax, depreciation, and amortisation (EBITDA) dropped 5% to $139.0m – inside the revised forecast the business delivered in 2019.
