Bloomberg News

JCDecaux Reports 20% Jump in Profit That Beats Analyst Estimates

July 29, 2011

July 29 (Bloomberg) -- JCDecaux SA, the French outdoor advertising company, said first-half earnings before interest and taxes rose 20 percent as growth in Asia and some European markets drove higher sales.

Ebit reached 136.5 million euros ($195 million) in the first half of the year, compared with 113.7 million euros a year earlier, the company said in a statement. That beat the 131.8 million-euro average estimate by five analysts in a Bloomberg survey.

JCDecaux, based in Neuilly-sur-Seine outside Paris, said growth in the Asia and “rest of world” regions grew 20 percent or more in the first half, offsetting declines in North America. The company increased operating profit by 5.4 percent.

“Although some concern remains regarding the short-term economic outlook, we are confident in our ability to deliver solid revenue growth,” Co-Chief Executive Officer Jean-Charles Decaux said in the statement.

Revenue climbed 5.3 percent to 1.17 billion euros in the first half, in line with analysts’ estimates. Net income jumped 46 percent to 95.1 million euros.

The company said it expects third-quarter organic revenue growth, which excludes acquisitions, divestitures and currency swings to be similar to growth last quarter.

JCDecaux fell 13 cents to 19.21 euros in Paris trading yesterday. The stock had declined 17 percent this year before today.

--Editor: Kenneth Wong.

To contact the reporter on this story: Amy Thomson in London at athomson6@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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