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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