Avanti Screenmedia struggling, seeking additional funding

This just in, thanks to Adrian at DOOH:

LONDON (Thomson Financial) - Avanti Screenmedia Group PLC said it is urgently seeking additional funding, as it is currently reliant on its overdraft facility, due to lower-than-expected sales in the period to June 30.

The implementation of the new strategy — following the demerger from the satellite networks business — also compounded the situation, Avanti said in a trading update.
However, the in-store digital solutions provider added that trading is showing signs of improvement. ‘The company will update shareholders of further progress in due course,’ the company said.

Ouch. Avanti is one of the oldest and largest digital signage firms in the industry, and one of the very few that are publicly traded. Thus it's a bit disappointing to think that even with all of the time they've had and money they've raised they still haven't figured out the secret recipe for making an ad-funded digital OOH network profitable.

Tags: digital signage, out-of-home advertising, avanti