The outdoor company’s half-yearly results showed a rise in net profit to $8 million and a 27% fall in debt to $46 million. There was also a 9% increase in revenue to $119 million, continuing the consistent growth Ooh has enjoyed since achieving sales of $34 million in the 2005-06 financial year.

Ooh chief executive Brendon Cook told ProPrint that building revenue and net profit in the midst of a challenging media environment had been a “tremendous result”.

He attributed the growth to strong products backed by good research, which had allowed their value to be sold to clients.

Cook welcomed the fall in Ooh’s debt, which he said was “very, very manageable”.

He said it proved the success of Ooh’s business model, which had focused on “aggressive” expansion, knowing it would allow the company to decrease its debt.

Champ’s takeover bid was approved by the Federal Court on 29 February, two days after it received 99.99% shareholder support.

Shareholders will be paid 32.5 cents per share – a 103% rise on the 16c closing price on 9 November, the day before it was announced Ooh Media’s board had approved the takeover.

Ooh stopped trading on 1 March with the takeover to officially take effect on 15 March.

Champ director Darren Smorgon told ProPrint: “Champ is excited to have successfully acquired Ooh and believes that it has acquired the fastest-growing company in a fast growing sector.

“Ooh is a well-run company… and we believe that working together with Brendon and his team, the company has the potential to grow significantly in the next few years.”

Ooh’s first-half highlights were the takeover bid and the winning of the Red Outdoor contract, according to its report.

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