ITV Reports Interim Results

LONDON, August 9: With
revenues up just 3 percent to £1.1 billion, ITV plc still recorded a 9-percent
increase in operating profit to £163 million for the first half of the year,
and a 12-percent rise in profit before tax to £173 million.

The company also noted a
25-percent increase in net advertising revenues at its channels, excluding the
ailing flagship ITV1 network, to £423 million. At ITV1, net advertising
revenues fell 8 percent to £654 million, with audience share down from 37.5
percent to 34.2 percent. However, ITV’s digital channels multichannel viewing
increased by 12.3 percent. Looking ahead, the company expects its 9-month results
to see an 8 percent drop in net advertising revenues.

Production/worldwide
revenues, however, received a boost, rising 9 percent to £127 million, and
consumer revenues were up 300 percent to £69 million.

Outgoing chief executive
Charles Allen noted, “Despite a tough display advertising market, these results
show that our strategy for developing our businesses outside ITV1 is delivering
and they continue to grow at an impressive rate. Our focus remains on
revitalizing the ITV1 schedule performance and the autumn and winter schedules
are looking strong. We also continue to invest in ITV’s digital future with the
development of ITV local and broadband in addition to our successful family of
channels.”