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Ocean Outdoor earnings rise as billing revenue, margins improve

By BFN News | 09:38 AM | Monday 16 September, 2019


Outdoor advertising group Ocean Outdoor posted a rise in adjusted earnings after it increased its billings revenue. For the six months through June, the company posted a bottom-line pre-tax loss of £4.0m, compared to a profit of £8.2m on-year. However, stripping out exceptional items, adjusted Ebitda rose 22% to £11.0m, on the back of a 16% rise in revenue to £41.9m. The company's gross profit margin rose to 38.3%, up from 37.4%. 'It has been an excellent first half with the group delivering good levels of organic growth,' chief executive Tim Bleakley said. 'We are particularly pleased with the early progress and contribution of Interbest, Ngage Media and Beyond Outdoor, which have given us a significant share of the Dutch market.' 'The acquisitions are performing well and we have realised a number of synergies.' 'We continue to trade in line with expectations and are extremely excited for the future of the business in the UK and overseas.' At 9:38am: (LON:OOUT) Ocean Outdoor Limited Ord Npv Di share price was +0.03p at 7.9p Story provided by StockMarketWire.com

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