10th Nov 2015 07:16
LONDON (Alliance News) - ITV PLC on Tuesday said it expects to deliver strong double-digit profit growth for the full year and said its initial outlook for 2016 is encouraging, as it said revenue increased across the business in the first nine months of 2015.
The blue-chip broadcaster said total external revenue for the nine months to the end of September was GBP2.05 billion, up from GBP1.80 billion a year earlier, while broadcast and online revenue rose 7.0% to GBP1.53 billion from GBP1.43 billion.
Within the broadcast and online business, ITV Family net advertising revenue rose 6.0% and is expected to rise at least 5.0% for the full year, ahead of the wider market. ITV also saw continued strong growth in online, pay and interactive advertising revenue.
ITV Studios revenue rose 28%, driven by acquisitions and 9.0% organic growth in the business. In total, non-net advertising revenue for the period rose 22%, ITV said.
"We're on track for another year of double-digit profit growth as we continue to strengthen ITV in the UK and internationally. We are confident of further good growth across ITV for the remainder of this year and into 2016 as we continue to exploit our integrated producer broadcaster model in the UK and to build a global content business of scale," said Chief Executive Adam Crozier.
By Sam Unsted; [email protected]; @SamUAtAlliance
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