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09/03/2005
ITV profits rocket despite dwindling audience share
ITV plc has reported a 57% rise in profits at the end of the first full year since it was spawned from the merger of Granada and Carlton - pre-tax profits for the group were £340 million.
ITV 1, the central plank of the regional broadcasters business, has seen its audience share fall by 2% over all, but a £120 million efficiency drive has helped pare down costs.
Charles Allen, Chief Executive of ITV said: “ITV has had an outstanding first year, delivering substantial growth in turnover which combined with cost savings has delivered a 49% increase in pro forma operating profit. We have built a vibrant multichannel proposition and have a clear strategy for future growth.”
The stronger than expected results for ITV as a whole are due to the success of digital channels ITV2 and ITV3, and an impressive 4.7% growth in advertising revenue.
(GB)
ITV 1, the central plank of the regional broadcasters business, has seen its audience share fall by 2% over all, but a £120 million efficiency drive has helped pare down costs.
Charles Allen, Chief Executive of ITV said: “ITV has had an outstanding first year, delivering substantial growth in turnover which combined with cost savings has delivered a 49% increase in pro forma operating profit. We have built a vibrant multichannel proposition and have a clear strategy for future growth.”
The stronger than expected results for ITV as a whole are due to the success of digital channels ITV2 and ITV3, and an impressive 4.7% growth in advertising revenue.
(GB)
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ITV unveils profits rise
Commercial television broadcaster ITV plc has announced a 36% rise in profits. The company announced that profits rose to £452 million, despite a fall of 3.3% to £1.5 billion in advertising revenues at its flagship ITV1 channel. However, growth at ITV2 and ITV3 helped to push overall advertising revenues up 2.7%.
ITV unveils profits rise
Commercial television broadcaster ITV plc has announced a 36% rise in profits. The company announced that profits rose to £452 million, despite a fall of 3.3% to £1.5 billion in advertising revenues at its flagship ITV1 channel. However, growth at ITV2 and ITV3 helped to push overall advertising revenues up 2.7%.
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