World Cup helps ITV beat earnings forecast
Commercial broadcaster ITV posted a better-than-expected 11pc rise in first-half adjusted earnings helped by the draw of the football World Cup at the end of the period.
The broadcaster of Britain's Got Talent and Coronation Street. which is set to launch a new Irish TV channel, said its net ad revenue for the period rose 7pc, beating the market, and was expected to be up 4pc to 5pc in the third quarter across its family of channels.
Chief Executive Adam Crozier said the group, which also includes a production arm, delivered double-digit profit growth in every area of the business in the first half.
"Share of viewing improved during the second quarter, helped by the FIFA World Cup, and we're confident of our strong Autumn schedule with both new and returning drama and entertainment," he said on Wednesday.
The company posted first-half revenue of £1.23bn, beating a £1.22bn forecats by analysts, while adjusted earnings before interest, tax and amortisation were £322m, against the £315m expected.