QMS puts on weight in NZ

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Australasian out-of-home company QMS has reported a record year of growth, with earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 40% to A$37.5m.

Melbourne-based ANZ ceo Barclay Nettlefold said the “record performance” was due to “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,” Nettlefold said.

Nettlefold said QMS is “well placed” to deliver strong growth in FY18, with an estimated EBITDA of A$43m.

Nettlefold said the company would continue to invest in the large format out of home category, in sport infrastructure, across codes, clubs and stadiums, and will also focus on its data offering.

At the time of posting QMS’s share price had dropped slightly, down just under 1% for the day, giving it a market capitalisation of A$360m.

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