AFTER seeing a strong bounce back in demand last year, advertiser Ocean Outdoor is mulling a sale.

Following tough conditions during the Covid-19 pandemic, revenue at the firm jumped 44.3 per cent to £124.4m in the 2021 financial year.

After a strong year for Ocean Outdoor, which operates outdoor advertising in the UK, Netherlands, the Nordics and Germany, the company's board has decided its £502m valuation is too low and are mulling a sale to maximise shareholder value.

Ocean Outdoor confirmed that it has already generated interest and conditional offers for the business and said another update will be made in due course.

Shares were up 5.43 per cent at close of play yesterday.

(c) 2022 City A.M., source Newspaper