We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ocean Outdoor Limited | LSE:OOUT | London | Ordinary Share | VGG6702A1084 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.20 | 10.10 | 10.30 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMOOUT TIDMOLOW
RNS Number : 9461F
Ocean Outdoor Limited
01 November 2018
1 November 2018
Ocean's Q3 Revenue up 20% and EBITDA up 12%;
Full Year Guidance Confirmed, including Forrest
Third Quarter Trading Update
("Ocean", "Ocean Outdoor" or the "Company" and, together with its subsidiaries, the "Group")
Highlights(3)
-- Revenue grew 20% in Q3 2018 vs Q3 2017 on a pro forma(1) basis, driven by a shift of advertising spend from H1 as advertisers returned to out of home media, re-phasing their budgets after a focus on other media formats during the football World Cup in Q2 2018
-- Adjusted EBITDA(2) grew 12% in Q3 2018 vs Q3 2017 on a pro forma(1) basis, as a result of higher revenue, offset by investments in the business for future growth
-- Ocean, excluding Forrest, grew revenue and EBITDA at 21% and 14%, respectively in the period and also recorded the Company's largest ever billings month
-- The Forrest turnaround initiative remains on track and has started to deliver good results with revenue growth of 11% in Q3 2018 vs Q3 2017, whilst also undertaking a re-branding exercise under the Ocean UK national portfolio using the brand Ocean Scotland
-- Forrest has reached its largest billings month ever in the quarter although Forrest EBITDA declined 1% in the period as a result of increased branding costs and the step-up of rent to new long-term rates, offset by the revenue increase
-- Ocean's inventory pipeline is continuing to evolve, with new sites set to be launched towards the end of the year, helping to drive further potential growth in revenue and EBITDA. The Group continues to enhance its portfolio with a focus on audience engaging networks and products more relevant for customers and brands.
-- The quarter was the first period where all of the new Westfield Phase 2 and existing Westfield site refurbishments were complete
-- Ocean's full year guidance is reiterated, now inclusive of Forrest: the Group expects to achieve high single digit revenue growth for the full year 2018
-- We continue to work towards readmission and expect this to be complete before the year end
Tim Bleakley, Chief Executive Officer, commented:
"The Group has had a solid year to date with trading in line with our expectations. Strong growth was achieved in Q3 2018, as illustrated by the increase in both the pro forma(1) revenue and adjusted EBITDA(2) . Whilst the Group is progressing well organically, we continue to examine growth in non-organic opportunities at a price level that would deliver value to our shareholders."
Q3 Results(3)
Proforma(1)
Variance Variance GBP million 2018 2017 GBP % ---- ---- -------- Revenue 15.6 13.1 2.6 20 EBITDA(2) 5.1 4.6 0.5 12 ------------ ---- ---- -------- --------
Ocean only
Variance Variance GBP million 2018 2017 GBP % ---- ---- -------- Revenue 13.6 11.2 2.4 21 EBITDA(2) 4.5 3.9 0.5 14 ------------ ---- ---- -------- --------
Forrest only
Variance Variance GBP million 2018 2017 GBP % ---- ---- -------- Revenue 2.0 1.8 0.2 11 EBITDA(2) 0.7 0.7 0.0 (1) ------------ ---- ---- -------- --------
Year to Date Results(3)
Pro forma(1)
Variance Variance GBP million 2018 2017 GBP % ---- ---- -------- Revenue 41.2 38.7 2.5 6 EBITDA(2) 12.7 12.6 0.1 0 ------------ ---- ---- -------- --------
Ocean only
Variance Variance GBP million 2018 2017 GBP % ---- ---- -------- Revenue 36.1 33.4 2.8 8 EBITDA(2) 11.3 10.6 0.7 6 ------------ ---- ---- -------- --------
Forrest only
Variance Variance GBP million 2018 2017 GBP % ---- ---- -------- Revenue 5.1 5.4 (0.3) (6) EBITDA(2) 1.4 2.0 (0.6) (30) ------------ ---- ---- -------- --------
For further information please contact:
Ocean Outdoor 020 7292 6161
Susann Jerry, Head of Communications
Yellow Jersey PR 07825 916 715
Charles Goodwin, Georgia Colkin, Joe Burgess
(1) Pro forma figures assume all trading entities were part of the group from the start of 2017 in order to present a year on year picture. This allows a year on year comparison without the distortion of acquisition accounting.
(2) Adjusted EBITDA is the Earnings Before Interest, Tax, Depreciation, Amortisation and adjusted for one off items.
(3) The financial information contained herein is unaudited
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTDFLFXVBFEFBB
(END) Dow Jones Newswires
November 01, 2018 03:00 ET (07:00 GMT)
1 Year Ocean Outdoor Chart |
1 Month Ocean Outdoor Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions