French outdoor giant JCDecaux has won a street furniture contract in Chicago worth $774 million (E850m).
The deal, one of the largest of its kind, strengthens the family-controlled firm’s presence in the US. It already has a contract in San Francisco and was recently awarded $750m duties in Los Angeles in partnership with Viacom’s Infinity [WAMN: 26-Jul-01].
The news came as Decaux posted an 11% rise in Q3 sales to E360m, though it expects “to report a slight decline in 2001 earnings before interest, tax and depreciation compared with last year.”
Revenue growth targets at its street furniture division were confirmed at 8%–10%. However, the group warned its billboard arm would “not record an improvement over the first half of 2001” and the transport unit would “show a significantly weaker performance in the second half.”
News source: Financial Times