JCDecaux, the world's second largest outdoor advertising company, today reported a 95.6% fall in profits in the first half of 2009, with the UK the worst performing major market with revenues plunging 32.8%.

The French-based firm has seen profits tumble from €100.9m (£86m) in the first half of 2008 to just €4.4m (£3.75m) in the first six months of the year. Piling on the gloom, the company said that it expects no improvement in the advertising market in the third quarter of 2009.

Earnings before interest and tax fell by 70.1% to €49.5m (£42m) year on year. Revenues for the six months to 30 June fell by 13.3% year on year to €925.4m (£788m).

The company said its organic revenues were down 13.8% year on year in the six months to the 30 June, with the second quarter down 15.8%.

"The global advertising market continued to lack volume and to suffer from aggressive pricing, particularly from TV broadcasters," said JCDeacaux co-chief executive Jean-Francois Decaux.

"Visibility remains very low and business is volatile. Without signs of improvement in market conditions, we currently expect the decline in third-quarter organic revenues to be broadly in line with the decline in the first half."

Revenues from JCDecaux's billboard advertising business fell 21% year on year, the transport ads division saw a 3.2% revenue fall and what is termed the "street furniture" ad operation fell 15.5%.

Reported revenue across Europe, excluding France and the UK, fell 19.6%, equating to an organic growth decline of 18.2%.

Revenue in France fell 11.6% with the same organic growth decline rate. The Asia Pacific region saw reported revenues fall 4.6%, an organic revenue decline of 15.4%.

The UK saw reported revenues fall 32.8%, an organic revenue decline of 22.6%. JCDecaux's North American operation reported a revenue fall 0.7%, a 13.3% organic revenue decline.

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