Advertising Firm JC Decaux Registers A Loss Due To COVID-19

JC Decaux, an outdoor advertising firm, has announced its losses for the first half on Thursday, as the Covid-19 pandemic had severely affected the Global advertising sector. The company said that it is unable to provide any financial estimates for the future given the uncertainty that is prevailing over the business environment.

The company reported that it had incurred a net loss of 254.9 million euros ($300 million), in the first half of the year with revenues dipping by 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 guidance for Q3 2020,” said Chairman and co-CEO Jean-Charles Decaux.