12th May 2016 06:14
LONDON (Alliance News) - ITV PLC on Thursday said it has made a good start to 2016, with revenue up 14% in its first quarter, helped by a strong performance in its ITV Studios and online, pay and interactive segment.
In a statement ahead of the FTSE 100 listed broadcaster's annual general meeting, ITV said total revenue rose 14% to GBP755 million in the three months to the end of March from GBP665 million a year before.
This included flat net advertising revenue, 44% growth in the ITV Studios segment and 17% growth in its online, pay and interactive segment.
ITV's share of viewing was up 3%, including a 1% rise in share of viewing for its core family of channels.
The company expects to deliver "good group profit growth" in the first half, against a backdrop of uncertainty in the UK advertising market which it has experienced "since the debate over Brexit began", it said.
ITV also forecast flat net advertising revenue for its core family of channels in the first half, which it said is ahead of the market.
ITV is on track for double-digit revenue growth in online, pay and interactive, and double digit revenue and profit growth in its ITV studios business over the full year, it said.
"The strength of our cash generation and financial position gives us the flexibility to continue to deliver further growth across the business both organically and through acquisitions and partnerships," said Chief Executive Adam Crozier in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
ITV