Outdoor firm Avanti Screenmedia saw ad revenue from national brands increase 15% year on year in 2008.
For the final six months of 2008, Avanti’s revenue totalled £2.39 million, down 9.5% from 2007. However, it said a 42.8% reduction in operating costs saw a reduction in its pre-tax losses to £1.63 million, from a loss of £2.46 million in 2007.
European outdoor company Neo Media Group now holds 29.8% of Avanti’s issued share capital and a further £1.4 million of convertible loans.
Avanti said that it is developing “its new relationship with Neo Media, and a number of new initiatives are emerging from the partnership”.
Simon Rees, Avanti chief executive, said: “Despite the very challenging conditions within the wider economy and the advertising sector in particular, Avanti has continued to win contracts with new and existing clients.”
Avanti also announced today that it has begun the roll-out of a digital screen network within the Sizzling Pub Company branded outlets owned by Mitchells & Butlers.
