oOh!media Group Ltd has announced a 36 per cent improvement in first half net profit on the strength of regional and retail billboard advertising.

The specialist outdoor advertising company said net profit for the six months to June 30 was $3.52 million, up from $2.59 million for the previous corresponding period.

Revenue grew nine per cent to $55.33 million. The company will pay no final dividend.

“Out-of-home advertising is forecast to continue to be the fastest-growing of all traditional media and because of our diverse inventory and national coverage, we believe we are well-placed to continue to outstrip industry benchmarks,” chief executive Brendon Cook said.

oOh!media said the improved result was due to increased demand for billboard advertisements in regional areas and retail advertising.

The company also said its forward bookings for the first quarter of 2012 showed strong growth signs.