QMS Media today announced its preliminary financial results for the six months to 31 December 2018.
As previously advised, the company has resolved to change its financial year end from 30 June to 31 December, to streamline the reporting across all QMS Group entities and to align with industry standards.
QMS’ gross profit is up 11 per cent to $53.3 million, with a gross profit margin of 49.5 per cent compared to 48.6 per cent pcp.
Statutory revenue is up 9 per cent to $107.6 million, with an underlying EBITDA of $22.7 million.
QMS’ solid revenue growth primarily reflects the strength of the QMS Australia business and continued strategic digital roll-out, with the underlying EBITDA of $22.7 million for the six months to 31 December 2018 n track to deliver their previously announced FY19 guidance of $56m-$58m.
Commenting on the results, QMS group CEO Barclay Nettlefold said: “The company has delivered another solid performance, demonstrating an ability to effectively manage changing sector dynamics to drive value and growth and to leverage our competitive advantage.
“Delivering on our strategic plan across our three business segments; QMS Australia, QMS NZ and QMS Sport, which encompasses digital technology supported by a proprietary data and analytics platform, we continue to build an industry leading portfolio for growth.
“Our differentiated market proposition focuses on quality, not volume and reinforces the strength of our strategy, continuing to drive revenue synergies across the Group.