28th Jul 2015 06:16
LONDON (Alliance News) - ITV PLC Tuesday maintained its outlook for 2015, continuing to expect "another strong performance with revenue growth across the business", as it posted a rise in pretax profit for its first half.
The broadcaster posted a pretax profit of GBP327 million for the half year to end-June, up from GBP250 million a year before, as revenue rose to GBP1.36 billion from GBP1.23 billion. Revenue growth was boosted by a strong performance from its ITV Studios business, and 6% revenue growth in its Broadcast & Online segment.
Adjusted to strip out amortisation, impairment, and acquisition related costs, the company posted a pretax profit of GBP391 million, up from GBP312 million, and earnings per share of 7.7 pence, up from 6.1 pence.
Net advertising revenue for its core channels in the first half was GBP838 million, up 5% from GBP795 million a year before, as 12% growth in the first quarter was flat during the second quarter.
It expects net advertising revenue to be up 6% in the nine months to end-September and around 8% in its third quarter, and to outperform the market over the full year.
ITV proposed an interim dividend of 1.9 pence, up from 1.4 pence a year before.
In the first half share of viewing for ITV Family was down 4%, and improving share of viewing "remains a key focus", the company said. It expects to see improvements in share of viewing in its second half as a result of the Rugby World Cup and new dramas.
"Looking ahead to 2016 we have now secured the joint rights to Six Nations Rugby to add to our strong schedule of sport, drama and entertainment including the European Football Championships, Beowulf, Britain's Got Talent and Seth MacFarlane's Family Guy and American Dad. Our outlook for the remainder of this year is unchanged and we expect to deliver another strong performance in 2015," said Chief Executive Officer Adam Crozier in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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