By Matt Bell
Wilson Asset Management senior investment analyst Sam Koch says oOh!media posted a strong first-half result, with revenue up 17 per cent and underlying earnings climbing 46 per cent.
While revenue beat expectations, softer margins kept earnings broadly in line, weighing on sentiment.
He said the company was well-positioned with no major contract renewals in the near term, giving it scope to chase new opportunities.
“With early signs of recovery in the broader advertising market, we expect the out-of-home sector to continue outperforming traditional media channels,” Koch says.
Shares in the company were down 9.8 per cent to $1.60 at 2.30pm AEST.
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