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UPDATE 1-Outdoor ad group JCDecaux predicts Q2 pickup
May 6, 2014 / 5:31 PM / 4 years ago

UPDATE 1-Outdoor ad group JCDecaux predicts Q2 pickup

(Adds details, analyst’s comment)

PARIS, May 6 (Reuters) - Outdoor advertising specialist JCDecaux expects organic revenue growth in the second quarter to be higher than in the first three months of the year, when it stood at 2.3 percent, it said on Tuesday.

First-quarter sales at the company, which is majority-owned by the Decaux family and competes with Clear Channel Outdoor and CBS Outdoor, were up 1.5 percent at 574.1 million euros ($797 million).

“First take would be that numbers are okay but the outlook is too light to get excited and the shares unlikely to react very positively,” Exane BNP Paribas said in a note.

Billboard sales fell by 5.8 percent due to difficult markets in Europe, including in France and the UK, but the transport unit that puts ads in train stations and airports saw revenue rise 4.7 percent during the period.

JCDecaux’s shares have fallen 0.8 percent this year to close at 29.60 euros earlier on Tuesday, giving the company a market capitalisation of 6.65 billion euros. ($1=0.7205 euros) (Reporting by Astrid Wendlandt; Editing by Leila Abboud, Greg Mahlich)

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