APN Outdoor Group Ltd (ASX: APO) provided a trading update today and maintained its 1H18 guidance of single-digit revenue growth. The market wasn't particularly enthused with the share price down 4% at the time of writing.
Despite that, it's not all doom and gloom. When the company released its FY 2017 results, I wrote that there was reason for optimism with a new management team coming in and potential M&A activity.
Since then, the APN share price is up 20% while the ASX All Ordinaries Index is down 1% which sets the company up to outperform in 2018, although there is still a long way ahead.
APN and its competitors oOh!Media Ltd (ASX: OML) and QMS Media Ltd (ASX: QMS) have seen their shares smashed due to long term headwinds affecting their industry.
As a result, I'm not a long term buyer of their shares but there will be volatility which could create opportunities.
