JCDecaux's 'strong start to year' boosts shares

Jcdecaux SE

03/05/2024 08:28

** Shares in JCDecaux  JCDX.PA  rise around 11% after the
French outdoor advertising group posted better-than-expected Q1
results
    ** Q1 sales rise 11.1% to 801.6 million euros ($860.04
million), driven by strong growth in digital across all of the
group's business segments
    ** J.P.Morgan flags a strong start to the year, with organic
revenue ahead of consensus (+9.5%) and previous guidance of
around 9%, and confident outlook into Q2 
    ** TD Cowen says JCDecaux's Street Furniture is "still its
dominant business"
    ** "We expect the company to further increase its digital
penetration to better monetize an installed base of municipal
assets", the brokerage adds    
    ** The stock is among the best performers of the French SBF
120 index  .SBF120  and is on track for its best day since
mid-April 2022
    
($1 = 0.9321 euros)

 (Reporting by Lina Golovnya)
 ((Lina.Golovnya@thomsonreuters.com;))