Shares in oOh!Media have soared after the outdoor and digital advertiser lifted first-half profit 52.8 per cent to $6.11 million.
The company says profit for the six months to June 30 was boosted by an 18.2 per cent increase in revenue following the introduction of another seven large format premium digital billboards and 11 digital banners across Australia and New Zealand.
At 1315 AEST, shares in oOh!Media were up 44 cents, or 9.36 per cent, at $5.14.
"We delivered a number of key initiatives against our strategy which sets the road map for continued sustainable growth," chief executive Brendon Cook said, reaffirming full-year underlying earnings guidance of $68 million to $72 million.
"We are investing now to be the new media business of today and into the future."
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The market response to oOh!Media's results contrasted with that to rival APN Outdoor's on Monday.
Investors hammered APN Outdoor shares to a six-month low on Monday, driving them down 35 per cent after the advertiser cut full-year earnings and revenue forecasts.
OOH!MEDIA OOZES CONFIDENCE
* First-half net profit up 52.8pct to $5.98m
* Revenue up 18.2pct to $146.6m
* Interim dividend up 1.2 cents to 4.0 cents, 30 per cent franked
