Australia's oOh!media soars on adjusted profit rising nine-fold, buyback

Ooh!Media

22/08/2022 02:40

** Shares of outdoor advertising firm oOh!media  OML.AX 
gain as much as 9.9% to A$1.358, their best intraday session
since Aug. 24, 2021 
    ** Says it intends to conduct an on-market share buyback of
up to 10% of its issued shares, about A$75 million ($51.62
million)  urn:newsml:reuters.com:*:nASXbrQZcS 
    ** Adjusted net profit after tax (NPAT) for H1 rises to
A$20.4 million, compared with A$2.2 million a year ago 
    ** Reported NPAT of A$6.1 million for H1, a turnaround from
loss of A$9.3 million a year ago
    ** Says Q3 CY22 revenue pacing 37% higher 
    ** Shares hit highest level since June 6
    ** Stock down 26.9% YTD as of last close 

($1 = 1.4531 Australian dollars)

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))