Maiden Outdoor has recorded a 77 per cent increase in turnover and 58 per cent increase in operating profits, during its first six months as a public company.
Turnover increased from 14.5m in the first half of 1995 to 25.7m in the same period this year. It was boosted by the acquisition of British Transport Advertising late last year and the regional poster contractor Brunton & Curtis in February.
Operating profits increased from 2.6m to 4.1m for the period, while pre-tax profits increased to 3.1m from 1.9m. Profits were also aided by the acquisitions, with Maiden raising the margins on its acquired sites by including them in Maiden packages.
The company is investing in more illumination for its larger sites and is converting four-sheet panels to higher yielding six-sheet sites.
Maiden claims bookings for the second half of 1996 are up compared with the same period last year. It has signed Channel 5 as the first advertiser on its new premium-priced backlit package Apollo and says it has signed up three other advertisers, which are paying between 250,000 and 450,000 a fortnight for 100 sites.