On Friday, JCDecaux shares soared to its highest in 10 weeks after reporting a rebound in its outdoor advertising business. JCDecaux reported that adjusted revenue in Q3 was up 14 per cent from a year ago period.

The said growth in revenue can be attributed to a revival in spending on travel-related properties as tourism reopened as the pandemic receded. The France-based company said its solid trading momentum had continued into Q4.

However, it still expects revenue growth to slow to around 3 per cent due to tougher comparative figures from a year ago and mobility restrictions in China.

Founded in 1964, JCDecaux SA is a France-based company engaged in bus-stop advertising systems, public bicycle rental systems, billboards etc. It is the largest outdoor advertising company in the world. The company estimates its billboard and other ad formats reach 850 million people every day. By 08:34 ET (12:34 GMT), shares of the company were up 10.3 per cent at 14.23 euros. However, in the first half of the year, stock had lost nearly 50 per cent of its value.