Cliff Brigstocke, CEO, Opus Group says that as the Group has grown the synergies that originally existed between outdoor and publishing have diminished, and publishing now represents approximately 85 per cent of revenue.

Brigstocke told Australian Printer, “We have considered where best to focus, which we believe will be publishing, and leveraging our growing non-print publishing services model, as well as our Asia Pacific footprint.”

Brigstocke says the Group will review all options in regards to the outdoor business including potentially selling it and says that there have been a number of enquiries over the last year.

The review follows the disposal of a number of non-core assets including the recent sale and leaseback of the Group’s Singapore building, as well as the sale of surplus land and buildings in Maryborough in Victoria, with the proceeds used to pay down debt.

Opus’ Outdoor Media division revenue was down by 8.8 per cent to $10.6m from the prior year revenues of $11.6m in the first half of the year

The Opus Group recently entered into an agreement to acquire certain assets and the revenue base of the Blue Star Canberra business, which it expects to deliver expected annual revenues of approximately $12.5m.

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