A 33 per cent increase in advertising revenue on Adshel bus shelters drove More O’Ferrall plc to record revenues and profits during 1995.
Sales of Adshel space in the UK and Ireland came to 42.4m compared with 31.8m in 1994. This drove profits for holding company More O’Ferrall plc to 15m, up 58 per cent on 1994. Turnover for the group as a whole was up 18 per cent during 1995 to 87.3m.
Demand for the illuminated six sheet posters from first-time advertisers such as KP, Camelot, Estée Lauder and Kellogg contributed to the growth in revenue.
“It’s a high fixed cost, capital intensive business,” says managing director Vincent Slevin. “If times are bad they are very bad but when they are good you get a high margin.”
The format now accounts for 70 per cent of MO’F’s UK and Ireland turnover and takes 20 per cent of the total outdoor market. MO’F spent around 9m last year creating new Adshel panels or converting four-sheets to the format.