SHANGHAI-BASED advertising network Focus Media said profit in the fourth quarter grew 60 percent to US$75.4 million as advertising income from its LCD display network and outdoor billboard boomed.

Focus Media, which operates more than 155,700 LCD screens in office buildings nationwide, said sales for the three months ended December 31 increased 63 percent from the same period last year to US$256 million.

In full year 2011, profit was US$200.9 million and sales reached US$793 million.

In the second half of last year, Focus Media rolled out interactive advertising screens that allow users to receive discount information and download coupons to their cell phones.

Focus Media Chairman Jason Jiang said in a conference call today following the earnings release that it would be a fairly long process to educate the market and it will focus on larger retailers and brand owners, hoping they would shift advertising budgets to the interactive facilities.

These interactive facilities will not be a major sales contributor for the company's overall income this year, he added.

In November, shares of Focus Media plunged nearly 40 percent after US short-seller Muddy Waters alleged its financial data were dodgy and put a "strong sell" rating on the stock, wiping off US$1.36 billion market value.

The stock added 2.2 percent on Monday to US$28.03, close to the level before the slump in November.

Source:shanghaidaily