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APN Outdoor to lift earnings on bookings

AAP logoAAP 7/11/2016

APN Outdoor has raised its earnings forecast after a strong recovery in its forward bookings following the federal election and the Olympics.

The outdoor advertising company says EBITDA earnings will be in the range of $84 million to $86 million for the 12 months to December 31, up from $79 million to $84 million previously, with revenue growing 8.5-nine per cent, up from 6-8 per cent.

APN Outdoor upgraded its guidance amid double digit growth in bookings, an indicator of media revenues to be reported in coming months, in the second half of 2016 compared to the prior corresponding period.

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