PARIS, March 7 (Reuters) - Outdoor advertising specialist JCDecaux predicted its organic growth would decline slightly in the first quarter because of weakness in European demand.
The family-owned company, which competes with Clear Channel Outdoor and CBS Outdoor, also posted core operating profit up 3.5 percent to 602.2 million euros last year, while net income before impairment charges fell 2.4 percent to 207.3 million euros largely because of lower sales of street furniture.
JCDecaux’s business is based on signing contracts with local authorities to provide street furniture such as lamp posts and bike rental programmes in exchange for putting up ads in public spaces. It also sells billboards.
The group said it will propose to pay a stable dividend of 0.44 euros per share. (Reporting by Leila Abboud; Editing by Christian Plumb)