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TX Group lowers H1 revenue outlook to 20% decline

2020-07-10 09:49:00| Telecompaper Headlines

(Telecompaper) TX Group, formerly known as Tamedia, said that it expects a decline in revenues of around 20 percent in H1 2020 compared with the previous year. This is a larger drop than a previous outlook that forecast a decline in revenues of between 10 and 15 percent, and also predicted an EBIT loss for the first half of this year. The company said that advertising revenues in the current year have fallen because of the coronavirus crisis. The daily and Sunday titles of Tamedia, the commuter newspapers of 20 Minuten and the advertising marketer Goldbach, are particularly impacted by the decline in advertising revenues. 

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