APN Outdoor Group Limited advised that Underlying EBITDA1 for the 12 months ending 31 December 2018 (FY18) is expected to be in the range of $92 million to $96 million.
Revenue momentum continues to build following the Company’s trading update at its AGM in April.
APO is now tracking headline 1H18 revenue growth of mid-single digits against the prior corresponding period, and high-single digits excluding the impact of the Yarra Trams contract loss in 2H17.
FY18 capex expenditure is expected to be in the range of $25 million to $30 million, in line with guidance provided by APO in its FY17 results presentation.
James Warburton, Chief Executive Officer and Managing Director commented:
“The out-of-home markets in both Australia and New Zealand have remained robust in recent months and pleasingly our reinvigorated approach to sales continues to gain momentum.
“We are actively investing in data and technology to add value to our product proposition and drive the Company’s next wave of growth.”
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