APN Outdoor Group Ltd
(ASX:APO) has upgraded its earnings guidance for the 12 months ending 31 December 2015.
For the 2016 financial year, APN is expecting to report revenue growth between 8.5% and 9% (which is up from its previous 6 to 8% forecast).
The outdoor advertising company is expecting EBIDTA between $84 million and $86 million – which is again, higher than its previous forecast of $79 million to $84 million.
The company says this upgraded guidance is due to a strong recovery in its forward bookings after the July federal election and Rio Olympics.
APN Outdoor posted a net profit of $19.5 million at 30 June 2016.
