The firm's revenues fell 16% year-on-year. Pre-tax profit dropped to around $3m (£2.1m), which CBS put down to revenue declines and increased transit costs.

The organisation's full-year pre-tax profit was down 91% to $6.3m. 

Owned by CBS Corporation, the company operates in 10 countries in Europe, Asia and the Americas. Its media assets include roadside billboards, transit systems and street furniture.

The Outdoor Advertising Agency (OAA) stressed that CBS did not break down figures by country, so the exact UK profit figures are unknown.

It said that revenue for the sector in the UK was £251m in Q4 – a 1.1% drop year-on-year.

Also see: Digital outdoor ad sales rocket despite overall fall in revenue

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