World Cup gives ITV 11% earnings boostWednesday 30 July 2014 08.19
Britain's biggest free-to-air commercial broadcaster ITV has posted a better-than-expected 11% rise in first-half adjusted earnings, helped by the draw of the soccer World Cup.
The broadcaster of Britain's Got Talent and Coronation Street said its net ad revenue for the period rose 7%, beating the market, and was expected to be up 4% to 5% 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 Q2, 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.
The company posted first-half revenue of £1.23bn, beating a £1.22bn forecasts by analysts, while adjusted earnings before interest, tax and amortisation were £322m, against the £315m expected.