Outdoor advertising group Maiden has released its interim results for the six months ending June 30 1999. Turnover was down by 8% to £29.3 million and before amortisation costs the company reported a pre-tax loss of £918,000.
Chief executive Ron Zeghibe promised an improvement in the second half and blamed an economic slowdown within the whole outdoor industry for the company’s losses. “Trading for the second half is showing a marked improvement over the first half. Operating profit for the third quarter should be at least 33% above the same period last year and fourth year trading is showing even greater strength”, he said.
Shares in the group fell by 15p to close at 355p.s
Maiden Group: 0171 838 4000
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