2nd Mar 2016 07:23
LONDON (Alliance News) - ITV PLC on Wednesday said it expects "another good year" in 2016, after it reported a rise in pretax profit for 2015, increased its regular dividend, and announced a bigger special dividend as well.
ITV proposed a final dividend of 4.1 pence per share, taking its total dividend for 2015 to 6.0p, up from 4.7p in 2014. Additionally, it plans a 10.0p per share special dividend, ahead of the 6.25p special dividend it paid in 2014, which ITV said reflects its strong cash generation and confidence in its business.
ITV reported a pretax profit of GBP641 million in 2015, up from GBP605 million the year before, on revenue of GBP2.97 billion, up from GBP2.59 billion. This included 6% growth in net advertising revenue to GBP1.72 billion, up from GBP1.63 billion the year before, and ahead of the company's previous guidance of 5% growth.
It reported earnings per share, adjusted for exceptional costs, of 16.5p, up from 13.8p in 2014, and ahead of consensus expectations of 16.1p.
For the year ahead, ITV said it expects its net advertising revenue for the first quarter to be flat, marginally behind the market, compared to 12% growth in the first quarter of 2015. The second quarter is expected to be more positive due to the UEFA Euro 2016 football tournament.
ITV said the shape of the market will be different in 2016 as a result of the timing of major sporting events.
Elsewhere, it said it has started 2016 well in terms of its viewing performance, with share of viewing up 5% on its main channel.
"We have a strong programme slate for 2016, with 50 hours more drama as well as major rugby and football tournaments. ITV uniquely delivers the mass audiences demanded by advertisers. Continuing to deliver this scale and reach, as well as further strengthening our onscreen performance, remains a key focus for the company and particularly for the new creative leadership in the Broadcast business," said Chief Executive Adam Crozier in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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