SYDNEY, Friday: QMS Media has posted its New Zealand & Australian financial results for the first half of the year, advising the ASX of a 65% rise in profit to A$16.5m.
Revenue for the outdoor media company – a major player throughout NZ and Australia – was also up 23% to A$128.9 million, while gross profit was up 85% to $90.5 million.
QMS ceo Barclay Nettlefold said: “Our operational and financial results for the first half of 2019 are extremely pleasing, in a challenging media landscape. Our unique diversification strategy, by both category and geography, provides us with a clear point of differentiation from our competitors.
“Our singular focus on quality digital assets and a market first approach to audience data and insights, delivers value for advertisers and this is reflected in our Australian and New Zealand results.”
Financial highlights
(all figures in Australian dollars – A$1.00 = NZ$1.05)
- Revenue up 23% to $128.9 million (up 24% to $130.5 million pre AASB 16).
- Gross profit up 85% to $90.5 million (up 45% to $70.9 million pre AASB 16).
- Gross profit margin of 70% (54% pre AASB 16).
- Underlying EBITDA up 144% to $56.4 million (up 47% to $33.9 million pre AASB 16).
- NPATA up 41% to $21.9 million (up 31% to $20.3 million pre AASB 16).
- NPAT up 65% $16.5 million (up 49% to $14.9 million pre AASB 16).
- Net Debt / Underlying EBITDA of 2.7x, down from 3.3×1
- Interim dividend declared of 1.2 cents per share, fully franked.
“As for the rest of the year, QMS forecasts a strong growth outlook,” Nettlefold said. “We expect second-half media revenue to be 15-20% up on this time last year”
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