Ocean Outdoor has recorded a revenue increase of over 15% for its last financial year, following a spate of acquisitions across Europe, leading to a gross profit of £25.2 million.
Hailed as “a significant year” by chief executive Tim Bleakley, Ocean Outdoor acquired Forest Media in Scotland for £32m and of SCP Acquisition Topco Limited for approximately £200m. Another two deals have also been secured in the Netherlands with Interbest and Ngage Media for around £45m too.
Alongside a number of new locations having launched across the UK, Ocean Outdoor also confirmed an exclusive, long term contract with Southampton City Council.
As a result, billings increased year-on-year by 13.7% to £87.8m with revenue up 15.2% to £62.2m and gross profit increased by 13.8% to £25.2m. Digital Billings accounted for 92.8%.
"The successes achieved this year in developing and expanding our network, as well as our entry into the European market, are a testament to the strength of our team and the growing potential for DOOH,” said Bleakley.
"Looking ahead, management remains committed to the job in hand and delivering on our strategy, working alongside our talented teams who are already building on this momentum in 2019."