NEUILLY-SUR-SEINE, France: Outdoor ad titan JCDecaux reported a 0.9% drop in first-half operating profits for 2008, a result the company attributes to the cost of installing and replacing street furniture and fluctuating exchange rates.
The world's second-biggest outdoor advertising provider saw operating profit fall to €277.5 million ($429m; £217m) from €280 million in the comparable 2007 period, although revenues improved by 4.8% to a total of €1.068 billion
It enjoyed particularly strong business in North America and Asia-Pacific, but highlighted that the UK was one area where organic growth was comparatively lean.
Across the group as a whole, underlying sales growth of 6%–7% is expected for the year, although the company predicts that the economic slowdown could impact second-half growth.
Data sourced from Reuters; additional content by WARC staff