APN Outdoor reveals unexpected jump in profits as out of home media sector booms
Out of home company APN Outdoor (ASX:APO) has revealed to the market an unexpected jump in profits which is likely to see it finish the calendar year well ahead of expectations.
APN Outdoor: Flying high
The company, which listed on the ASX late last year, said in an update that it is expecting to finish the year with profits 50 per cent ahead of the same period the year before.
The company said it expected to finish the year with profits of between $68m and $69.5m, well up on the $53.7m predicted in its flotation prospectus.
The update also stated that the company – valued at $715m at close of trading on Thursday – remains on track to deliver 17 new large format digital panels.
The outdoor sector is currently one of the brightest spots for media investors. Since floating a year ago, APN Outdoor has seen its share price grow by more than two thirds. And rival out of home firm oOh! Media (ASX:OML) has seen its valuation grow by a similar amounts.
How APN Outdoor and oOh! Media’s share prices have boomed in 2015 | Source: Google Finance
Earlier this month the Outdoor Media Association said that the out of home sector had seen a 13.1 per cent growth for the quarter compared to the same period a year before, with year to date revenue up 16.8 per cent to $462.9m for the sector.
The OMA described September as a “bumper” month, up 23.1 per cent for the sector year on year.
Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large. He returned to Mumbrella as Publisher in January 2025
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