JCDecaux has announced its results for the first half of the year, showing a pre-tax profit of €162.7 million (£110.8 million), down 0.3% from €163.2 million the previous year.
The company’s revenues for the first half of 2007 totalled €1,019 million, up 7.7% from 2006.
The outdoor giant said that this growth reflected improvement across all three divisions with a very strong progression in transport, which showed double-digit organic growth, and a solid performance from billboard.
Commenting on the H1 2007 results, Jean-François Decaux, chairman of the executive board and co-CEO, said: “We are pleased with our results for the half of 2007 which are, once again, underpinned by good organic growth. The revenue progression over the period has enabled us to generate sound profit growth, with particularly strong operating leverage achieved in our billboard division.
“2007 is an important year for the group, with major street furniture contract renewals in France and further expansion abroad, particularly in emerging markets where we see significant opportunities for outdoor advertising.
“The investments in 2007 will pave the way for future profit and free cash flow growth and we therefore look forward to the future with confidence and believe that the group is well positioned in all its markets. We continue to expect that our organic revenue growth in 2007 will be similar to that of 2006, within a likely range of 7-8%, reflecting an acceleration of organic revenue growth in the second half due to ongoing strength in the transport division, a stronger growth rate in street furniture and improved market conditions in France.”
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