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Outdoor advertising company Ocean Outdoor swung to a full-year loss after rising revenue was offset by acquisitions costs and finance expenses.
Pre-tax losses for the year through December amounted to £4.7m, compared to a profit of £6.9m on-year.
Revenue rose 14% to £141.3m on a proforma basis, while adjusted earnings before interest, tax, depreciation and amortistation rose 9% to £33.2m on a proforma basis.
Ocean Outdoor said its revenue in the first quarter of 2020 had slipped 4% to £27.4m.
The company said it had a 'strong' balance sheet and liquidity', with a cash position as at 28 May of £32m and liquidity of about £67m.
It added that it had cut all discretionary spend, reduced employee working hours and, where necessary, furloughed staff.
At 8:08am: (LON:OOUT) Ocean Outdoor Limited Ord Npv Di share price was -0.13p at 6.7p