July 30, 2020 / 5:21 AM / 7 days ago

Advertising firm JC Decaux posts H1 loss as COVID-19 crisis hits market

PARIS, July 30 (Reuters) - Outdoor advertising firm JC Decaux posted a first-half loss on Thursday, as the COVID-19 pandemic hit the global advertising sector, and the company said it could not provide a financial outlook given the uncertain business environment.

JC Decaux reported a first-half net loss of 254.9 million euros ($300 million), with revenues dropping by around 40% to 1.075 billion euros.

“Considering the risk of new waves of COVID-19 and new local lockdowns being implemented, it remains very difficult to give a guidance for Q3 2020,” said Chairman and co-CEO Jean-Charles Decaux.

$1 = 0.8500 euros Reporting by Sudip Kar-Gupta; Editing by Tom Hogue

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