JCDecaux has record sales but growth slow
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PARIS, Jan 24 AFP
January 25 2013, 07:57AM
Global outdoor advertising leader JCDecaux has posted record annual sales of 2.6 billion euros ($A3.31 billion) but says growth has been dented by Europe's recession.
"JCDecaux achieved another year of record revenues boosted by the ongoing strength of our emerging market business," chief executive Jean-Charles Decaux said in a statement on Thursday.
"However, despite good resilience in France and a strong performance in the UK driven by the Olympics, the negative effect of the European recession continued to impact our organic growth," he added.
On a headline basis, revenues grew by 6.5 per cent, but organic growth was only 1.5 per cent. In the fourth quarter organic growth was just 0.2 per cent.
Transport advertising was the biggest gainer, posting 8.9 per cent organic growth to 1.0 billion euros ($A1.27 billion), while on the same basis street furniture dipped 1.9 per cent to 1.2 billion euros ($A1.53 billion) and billboards dropped 4.8 per cent to 439 million euros ($A558.10 million).