Shares in oOh!media fell hard in early trade on the ASX after the out of home advertising company reported half year results.
The shares dropped 9.5% on opening to $2.76. At the close, they were at $2.91, down 4.6%.
The company says it is heading for a poor September quarter following weaker billboard advertising revenue.
oOh!media has cut its earnings guidance for the rest of the year.
Underlying EBITDA is forecast to be between $125 million and $135 million for the full year. Previous guidance was between $152 million and $162 million.
CEO Brendon Cook says market commentary by media houses and industry reports indicate sluggish major advertiser confidence across the board.
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