Advertiser oOh!media has lifted its earnings forecast as it steps up its focus on digital billboards.
The company is expanding its digital operations, bringing to life static billboards on roadsides, at the airport, in shopping centres and even at the pub.
The company has rolled out 10 new digital roadside billboards in 2015, and 320 new digital panels in retail spaces.
"We are driving innovation by making investments to digitise major sites, such as Bourke Street in Melbourne," chief executive Brendon Cook said.
Digital is the most lucrative form of advertising in the out-of-home industry and the group is attributing its digitisation strategy for a surge in its half year profit to $3.8 million.
Revenue was up six per cent at $124 million, with digital revenue representing a significant chunk of the increase, growing almost 50 per cent.
"We have delivered a strong first half performance and made great progress executing against our strategy, particularly in rolling out our digital initiatives," Mr Cook said.
"This positions us well for long term growth."
The company now expects earnings for the full year of between $53 million and $55 million, up from its forecast of $48.6 million issued when it listed on the share market in December 2014.
oOh!Media shares gained three cents, or 1.2 per cent, to $2.60.
OOH!MEDIA POSTS STRONG HALF YEAR RESULTS
* Net profit more than doubled to $3.8m
* Revenue up 6pct to $124.1m
* Interim dividend of 2.8 cents
