Maiden Reveals Improved Summer Trading

Outdoor advertising group, Maiden, has issued an update on the six months ended 30 June 2005, revealing trading conditions over the summer to be showing signs of improvement over last year, with Group billings marginally up in the first six months.

The expected continued challenging conditions in the advertising market is shown to have adversely affected first half revenues and margins, with Maiden predicting to report an operating loss for the period.

The delay in Network Rail’s decision to award the Group its contract for roadside billboards until mid-May also affected Maiden’s ability to rationalise its roadside estate (see Maiden Secures Network Rail’s Roadside Contract).

The outdoor company remains optimistic about the rest of the year, with benefits of the strategic development plan that the management implemented following the award of the Network Rail contract now being seen.

In May, Maiden, revealed that it had enjoyed an overall increase of 4% in revenues in April and a 5% rise for the first four months compared to last year, despite challenging market conditions in the second quarter (see Maiden Enjoys 4% Rise In Revenues During April).

A statement given by the group’s chairman, Martin Boase, at the annual general meeting, showed uneven growth across Maiden’s three business areas, with billboards continuing to show a decline. Boase said however, that this drop was “more than compensated by growth across the retail and rail businesses.”

Maiden: 020 7838 4000 www.maiden.co.uk