oOh!media shares lower as full-year profit drops 54%
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More news: Outdoor advertising company oOh!media shares tumbled after reporting a 54% drop in full-year net profit.
oOh!media shares were down 3.6% to $1.08 at 1pm AEDT. The stock is now down 16.7% over the last 12 months.
UBS analyst Evan Karatzas said it was a "known challenging" end to the calendar year, with fourth-quarter revenue down compared to the prior corresponding period.
The company's earnings outlook for for 2026 was also "modestly softer" compared to consensus estimates, he said, but noted that was already priced in to current share price weakness.
oOh!media's full-year profit plunges 54% on New Zealand impairment
The news: Outdoor advertising company oOh!media reported a 54% slide in statutory net profit after tax to $16.9 million for the 12 months to December, including a $28.6 million impairment of its New Zealand cash generating unit.
The numbers: The result missed average forecasts of $22.5 million, according to Visible Alpha data.
Full-year revenue was up 8.8% to $691 million, below analysts' estimates of $694 million.
The company declared full-year dividend of 6.25 cents per share, up from 5.25 cents a year earlier, and above consensus estimates of 6.11 cents per share.
The context: New oOh!media chief executive James Taylor said the second half of the year saw "pressure on advertising budgets" and the non-renewal of the company's contract with Auckland Transport.
However, he noted "significant contract wins" during the period, including Transurban's Melbourne and Brisbane motorway assets, further reinforced its market leadership position.
The source: ASX
