QMS Media has reported a record full-year result with double-digit growth in profit and revenue for the 2017 financial year.
The outdoor media player posted a statutory net profit after tax of $16.7 million in the 12 months to 30 June 2017 – up 26 per cent on FY16.
Revenue grew 51 per cent to $168.6 million, with QMS attributing 57 per cent of it to digital.
Underlying expenses before interest, tax, depreciation and amortisation rose 40 per cent to $37.5 million in FY17.
QMS Media chief executive Barclay Nettlefold said the company’s record full-year performance was driven by a relentless focus on its digital rollout and the contribution from its New Zealand and sports acquisitions.
“In the last two years, we have successfully executed on our growth agenda, tripling our portfolio of premium landmark digital sites and extending our geographic footprint in key markets,” he said.
“We see a lot of opportunity to continue to grow QMS Sport, with advertisers valuing the ability to target highly-engaged sports fans via broadcast, digital viewership and live attendance.
“We have kicked some major goals in the second half, with new contracts secured with Suncorp Netball, Sydney Swans and Virgin Australia Supercar Championship, as well as contract extensions with Australian Rugby Union and major stadiums such as AAMI Park, Suncorp and Allianz Stadiums, and the Sydney Cricket Ground.
“During the year, we switched on our first landmark digital sites in Sydney and Perth, and in July, we secured the Canberra Airport concession, further expanding our footprint and enabling us to develop the only landmark digital signs in the highly-regulated ACT market.
“Strong out-of-home industry growth continued in FY17, with roadside digital – the core of QMS’ portfolio – continuing to outperform.
“Advertisers are increasingly recognising the value of digital, which will only become more compelling as advancements in technology, data and analytics support greater engagement between advertisers and their target audiences.
Nettlefold said QMS was well-placed to deliver strong earnings growth in FY18.
“We will continue to develop our landmark digital pipeline, and remain focused on opportunities to harness the value of digital, data and analytics to unlock additional value from our portfolio, both for advertisers and for our shareholders,” he said.