In a statement this morning, the outdoor advertising firm said that it expected growth to be at the higher end of the 3% to 5% it forecast during May. But it went on to say that it remained pessimistic about any advertising recovery, saying that yields have "continued to remain under pressure".
The company said: "Monthly performances range widely and predicting the outcome for the full year remains difficult, other than to confirm that conditions are not expected to show a marked improvement over last year."
Last month, Maiden Outdoor won the 10-year contract for Manchester City Council contract, worth 拢20m.
In March, Maiden revealed that pre-tax profits fell by 4.5% for 2002, down to 拢6.4m from 拢6.7m, following what the company described as the "worst media recession in a generation". The company has also said that revenues during March and April fell, because of the impact of the war in Iraq.
At its annual general meeting in May, Maiden, headed by chief executive Ron Zeghibe, said it was continuing to look for ways it could cut costs to boost profits and in this regard its focus in the second half would be on the business's largest external costs, which should produce clear future benefits.
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