Shares in oOh! Media surged by more than 9% after the outdoor specialist announced half year results.
A short time ago, the shares were trading at $1.32.
The company posted a 10% increase in revenue to $276.1 million for the half year to June. Reported net profit after tax was $6.1 million compared to a loss of $9.3 million.
Analysts have favoured oOh!, quoting structural benefits from digital screens and a rise foillowing a slump during the depths of the pandemic.
CEO Cathy O’Connor: “As the market leader across Australia/New Zealand, we are exceptionally well placed to capitalise on the growth of Out Of Home as advertisers increase their investment into this media format."
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