July 30, 2020 / 5:51 AM / 9 days ago

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

FILE PHOTO: A JC Decaux installation with hydroalcoholic solution is seen in a street in Paris as France softens its strict lockdown rules during the outbreak of the coronavirus disease (COVID-19) in France, May 11, 2020. REUTERS/Benoit Tessier

PARIS (Reuters) - Outdoor advertising firm JC Decaux (JCDX.PA) 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 (231.18 million pounds), 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.

Reporting by Sudip Kar-Gupta; Editing by Tom Hogue

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