ITV to return £250m via special dividend

The home of Downton Abbey said it had started 2015 well, with net advertising revenue now forecast to be up 11 per cent in the first quarter, and up four-seven per cent in April. That compares to the six per cent net advertising growth it recorded in 2014.

ITV, which has sought to develop its production capabilities and non-advertising revenue sources to avoid being at the mercy of ad markets, said its non-ad based revenue was now up ten per cent to make up 45 per cent of total revenue.

The one weakness within the results however was the group’s share of viewing, which has dragged this year. It fell five per cent in 2014, compared with a four per cent rise in 2013, and ITV said this was in large part due to a weaker performance from its main ITV1 channel.

It said it would increase investment in the programme schedule to reverse this trend.

Full-year pretax profit was up 23 per cent to £712m.

It also increased its full-year dividend by 34 per cent.

ITV chief executive, Adam Crozier, said: “ITV delivered another strong performance in 2014 as we continue to rebalance the business, drive new revenue streams and invest in our future growth.

“Across ITV we maintained our emphasis on cash generation, cost control and improving margins as we continued to strengthen ITV creatively, commercially and financially.”

ITV said it was confident of continuing strong growth in 2015, across the business. ITV Studios, which saw revenue up nine per cent to £933m from £857m in 2013, is again expected to deliver around £100 million revenue growth on a constant currency basis in 2015, with a return to good organic growth.

Mr Crozier said: “ITV Studios is now well established as a global business, with international production revenue up 24 per cent and almost half its total revenue coming from outside the UK.”