08/03/2006
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%. Operating profit also increased by 42% to £460 million
The company, which is home to such popular shows as 'Coronation Street' and 'X Factor', also warned that it expected total advertising revenue to drop by 10% during the first quarter of 2006, partly because of Easter and the World Cup, which will both occur in the second quarter.
However, ITV also announced a £200 million four-year advertising deal with consumer products group Unilever.
The company also announced that it planned to buy back £300 million of shares and raise its final dividend by 38% to 1.8p.
ITV also announced plans to launch a new TV channel, ITV Play, in April and hoped that it would make profits of £20 million within its first year.
The company announced that it had halved its pension fund deficit from £672 million in 2004 to £325 million now.
Commenting on the figures, Charles Allen, Chief Executive of ITV, said: "ITV has had another very successful year with strong profit growth helping us to double our profits in the last two years. We have strong cash flow, which has allowed us to invest in our businesses, improve the pension position and still be able to return cash to shareholders.
"These results demonstrate that we are delivering ITV's digital future today. We have transformed ITV from an analogue, single channel federation to a multi-channel, multi-platform, content-driven business firmly focused on the needs of viewers and advertisers."
(KMcA/GB)
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%. Operating profit also increased by 42% to £460 million
The company, which is home to such popular shows as 'Coronation Street' and 'X Factor', also warned that it expected total advertising revenue to drop by 10% during the first quarter of 2006, partly because of Easter and the World Cup, which will both occur in the second quarter.
However, ITV also announced a £200 million four-year advertising deal with consumer products group Unilever.
The company also announced that it planned to buy back £300 million of shares and raise its final dividend by 38% to 1.8p.
ITV also announced plans to launch a new TV channel, ITV Play, in April and hoped that it would make profits of £20 million within its first year.
The company announced that it had halved its pension fund deficit from £672 million in 2004 to £325 million now.
Commenting on the figures, Charles Allen, Chief Executive of ITV, said: "ITV has had another very successful year with strong profit growth helping us to double our profits in the last two years. We have strong cash flow, which has allowed us to invest in our businesses, improve the pension position and still be able to return cash to shareholders.
"These results demonstrate that we are delivering ITV's digital future today. We have transformed ITV from an analogue, single channel federation to a multi-channel, multi-platform, content-driven business firmly focused on the needs of viewers and advertisers."
(KMcA/GB)
Related UK National News Stories
Click here for the latest headlines.
13 May 2004
SMG settles differences with ITV over digital rights
Following the recent sale of the Scottish Media Group's (SMG) 25% GMTV stake to ITV plc, the two companies have reached an agreement on the use of the ITV brand name and the use by ITV plc of SMG's digital spectrum in Scotland.
SMG settles differences with ITV over digital rights
Following the recent sale of the Scottish Media Group's (SMG) 25% GMTV stake to ITV plc, the two companies have reached an agreement on the use of the ITV brand name and the use by ITV plc of SMG's digital spectrum in Scotland.
21 November 2006
ITV rejects merger approach by NTL
The Board of ITV has rejected a merger proposal from NTL as one with "little strategic logic." In a statement, the Board said it believed that "whereas there is obvious appeal to NTL in gaining control of ITV's substantial and successful business, from ITV's perspective there is little, if any, strategic logic for ITV to combine with NTL.
ITV rejects merger approach by NTL
The Board of ITV has rejected a merger proposal from NTL as one with "little strategic logic." In a statement, the Board said it believed that "whereas there is obvious appeal to NTL in gaining control of ITV's substantial and successful business, from ITV's perspective there is little, if any, strategic logic for ITV to combine with NTL.
30 October 2009
New Look For ITN
ITV News will unveil a new look across all of its national programmes from Monday, which will be supported by a major on and off-air marketing campaign promoting news throughout the schedule.
New Look For ITN
ITV News will unveil a new look across all of its national programmes from Monday, which will be supported by a major on and off-air marketing campaign promoting news throughout the schedule.
09 March 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 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.
13 October 2014
UKIP Leader To Be Included In Televised Debate
Nigel Farage is understood to have been invited to take part in a televised debate ahead of the next general election. Three televised debates are planned. One will feature the Prime Minister and Labour leader Ed Miliband; another will see Lib Dem leader Nick Clegg joining the debate; and a fourth will also feature Mr Farage.
UKIP Leader To Be Included In Televised Debate
Nigel Farage is understood to have been invited to take part in a televised debate ahead of the next general election. Three televised debates are planned. One will feature the Prime Minister and Labour leader Ed Miliband; another will see Lib Dem leader Nick Clegg joining the debate; and a fourth will also feature Mr Farage.