Outdoor advertising group, JCDecaux has defied ‘difficult market conditions’ to post an increase in sales for 2002.
The company announced today that revenues for the final quarter increased by 3% to €440.6 million while full year sales were up 2.2% to €1577.7 million. An overall rise of 7.6% in billboard advertising (5.6% in Q4) proved advantageous but the prospects for further growth in the UK are clouded by the forthcoming ban on cigarette adverts.
Street Furniture revenues went up by 7.8% in the fourth quarter and by 5.3% during the whole of 2002. However, the demand for airport advertising was weak, particularly in the US, and resulted in transport revenues falling by 11.6% last year.
Chairman and co-chief executive, Jean-Charles Decaux accepts that the advertising market is still subdued but believes that his company will remain competitive whatever the economic circumstances.
“As we stated in October, we expect market conditions as we enter 2003 to remain challenging and it is difficult to assess when we will see a clear improvement in advertising,” he commented. “However, we are well placed to benefit when general advertising expenditure increases once again.”
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