PARIS Nov 7 Outdoor advertising specialist
JCDecaux said its sales growth would pick up to reach
the low single digits in the fourth quarter after a stagnant
The family-owned company, which competes with Clear Channel
Outdoor and CBS Outdoor, posted third-quarter
sales of 631.6 million euros ($845 million) on Thursday with no
organic revenue growth.
The lack of revenue growth is slightly better than the
group's earlier forecast for a "slight" decrease in organic
revenue growth for the third quarter because of a strong
performance a year ago ahead of the London Olympics.
Analysts had predicted sales of 630-653 million euros.
JCDecaux signs contracts with local authorities to place ads
in bus stops, metro stations, airports and other public spaces,
as well as selling billboards. It also operates bike rental
schemes for cities in exchange for ad space, such as the Velib
programme in Paris.
Since January, JCDecaux shares have risen more than 60
percent, outperforming a European media index that has
climbed 32 percent.
The shares closed flat at 29 euros on Thursday before the
results publication, giving the group a market capitalisation of
roughly 6.4 billion euros.