The advertising firm, JC Decaux, posted a tally of their first-half loss on Thursday. The outdoor advertising firm in Paris has been majorly affected, like several other advertising firms worldwide, by the economic downfall because of the COVID-19 pandemic. The global advertising sector has been experiencing a halt in its operations and consequently, in revenue collection. The uncertainty in the advertising business does not pose a promising financial outlook which has been the reason for the firm’s first-half loss.
The company experienced a net first-half loss of 254.9 million euros. Along with this, the revenue earned by the company also dropped to 1.05 billion euros, approximately by around 40%.
The chairman and co-CEO Jean Charles Decaux stated that the uncertainty posed by COVID-19 and the local lockdowns have been detrimental to their business. He further said that the third quarter of 2020 would also bring newer challenges because of the lack of revenue generation and the implementation of lockdowns in the country and world. On further questioning, the chairman and co-CEO was unable to lay down proper guidance and business strategy for the rest of the year.