Revenue up 12% at Ocean Outdoor in Q3
Digital out-of-home media specialist Ocean Outdoor has reported a 12% year-on-year increase in revenue for the third quarter, boosted by the performance of both its UK and Dutch businesses.
Wednesday, 20 Nov 2019 11:18 GMT
Ocean Outdoor said its Piccadilly Lights site performed particularly well in Q3
Revenue for the three months to September 30th, 2019 amounted to £29.0m, up from £25.8m last year on a proforma basis.
Outdoor Ocean noted an impressive performance by its Piccadilly Lights site in the period, having introduced some new brands to the sector. The company also cited an positive showing by its Dutch business, highlighting the launch of Ocean Netherlands.
Other major highlights from the quarter included the acquisition of international media and tech group Visual Art, as well as its exclusive partnership with ITV to broadcast live content and highlight packages from the Rugby World Cup 2019.
In the UK, Piccadilly Lights has enjoyed a robust quarter and introduced some quality new brands to the sector”
Chief executive Tim Bleakley comments: “We are pleased with Q3 trading across the Group. In the UK, Piccadilly Lights has enjoyed a robust quarter and introduced some quality new brands to the sector.
“The performance of the Dutch business has been strong and the progress the teams have made with the launch of Ocean Netherlands is particularly encouraging.”
Bleakley adds: “Visual Art is a great new addition to the Group and the integration process is on track. Despite political uncertainty in the UK, the advertising market has held up reasonably well and the out-of-home market continues to outperform traditional media.”
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