update 1-brexit turmoil raises british ad market uncertainty - jcdecaux
Largest market for continued investment in the UK * group-co-
CEO * global advertising market growth of 4 pct in 2018 (
Add details, background)
Mathieu Rosman, Barcelona, November 15 (Reuters)-
The resignation of the British Cabinet on a draft agreement to bring Britain out of the EU has exacerbated uncertainty in the future of the UK advertising market
Chief executive of the outdoor advertising company JCDecaux said on Thursday.
JCDecaux, the world\'s leading outdoor advertising company, manages advertising offers for bus shelters in London (TfL).
Britain is its third largest market, accounting for 10% of its total revenue.
\"The situation is obviously very serious,\" Jean-
Charles Deco said in an interview with Reuters on the sidelines of the Morgan Stanley TMT conference in Barcelona.
\"Today\'s events have exacerbated the uncertainty in this market,\" added the French company executive . \". The family-
Controlled group is also the largest outdoor advertising company in the UK, Jean-
Charles\'s brother, another partner of the company. CEO, Jean-
Francois has lived for thirty years.
\"Even if we regret the whole situation, regardless of the outcome of these discussions, we will continue to invest in the UK market,\" Deco said . \".
On Thursday, just over 12 hours after British Prime Minister Theresa May announced that her senior ministerial team had agreed to the terms of the draft agreement, the Brexit minister, Dominique Rabu, and Minister of Work and Pensions, esther McVey, resigned, saying they could not support Brexit. Jean-
Charles Deco said the company expects difficulties in Brexit negotiations, with deployed digital screens 20% less than originally planned in the TFL contract.
The devaluation of the pound affected revenue from the UK, but the group\'s global growth and presence offset the impact.
The group also sells ads through street furniture and billboards, which has grown International since its initial public offering in 2001 and is currently listed in 80 countries, including China, it was the biggest market before France.
Sales of Degao increased by 7.
Organic growth of 3% in the third quarter is expected to increase by 4.
5% in 2018. Jean-
Charles Decaux said the company will grow more than the entire advertising market, which he expects to grow by 4% this year. (
Report by Matthew Rosemain;
Edited by Michelle Ross and Jane Merriman)