Outdoor advertising operator APN Outdoor Group Ltd (ASX: APO) has reported a 13% first-half boost to net profit and upticks in revenue, dividends and EBITDA in what might be its final set of results as a publicly-listed company.
The ACCC has formally approved the takeover of APN by French advertising company JCDecaux for $1.2 billion after JC secured unanimous support from the APN Board back in June following APN’s lost bid to buy HT&E Ltd (ASX: HT1), which will now be gobbled up by rival oOh! Media Ltd (ASX: OML).
JC’s takeover of APN will likely be finalised before the end of the 2018 calendar year.
APN’s net profit was $17.8 million for the half-year to June 30, driven largely by strength in its advertising platforms at train stations and airports.
APN has announced an interim dividend of 7c per share, up 4%, with its earnings guidance for FY18 maintained at between $92 million and $96 million.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended oOh!Media Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.