Cup of cheer for ITV as advert revenues rise

ITV kept up its momentum today after a strong World Cup for the broadcaster boosted advertising revenues by 7 per cent in the first half of the year.

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As the company’s five-year turnaround plan draws to a close, chief executive Adam Crozier said he was hopeful that a strong autumn schedule of new and returning drama and entertainment will maintain progress.

Profits were 16 per cent higher to £312m on an adjusted basis in the six months to June 30, with total revenues 6 per cent stronger at £1.38bn.

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Net advertising revenues (NAR) across ITV channels were up 14 per cent in June due to the World Cup, which compared with 2 per cent in the first quarter.

Its share of viewing improved during the second quarter, helped by the World Cup, although the figure was still 3 per cent lower across the first half.

ITV said NAR should be up around 6 per cent in the nine months to the end of September and that it will “significantly outperform” the market over the full year.

Mr Crozier said: “The economic recovery is leading to an improved advertising market with good growth across all key categories.”