January 30, 2018 / 6:14 PM / a year ago

JCDecaux beats fourth-quarter revenue target

FILE PHOTO: The logo of outdoor advertising group JCDecaux is seen near an information panel with a neighbourhood map in Paris March 7, 2014. REUTERS/Jacky Naegelen/File Photo

(Reuters) - French outdoor advertising company JCDecaux (JCDX.PA) beat its fourth-quarter revenue target, it said on Tuesday, citing improving French and Chinese markets.

The group’s fourth-quarter adjusted revenue was 1.02 billion euros ($1.27 billion). That represented 6.5 percent organic growth, beating the 4.5 percent forecast in November.

“This strong performance reflects a growing contribution from our digital street furniture assets and the recovery of our operations in China, combined with an improvement in France, as well as solid revenue growth in the U.S. and in the rest of Europe,” Co-Chief Executive Jean-François Decaux said in a statement.

The company’s transport business delivered quarterly growth up almost 12 percent year on year.

Full-year results are due to be published on March 8, along with first-quarter guidance.

Reporting by Manon Jacob; Editing by David Goodman

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