ITV Profits Plunge 39% in H1

08 August 2007

LONDON: The UK's biggest commercial TV broadcaster, ITV, today (Wednesday) unveiled interim results that show a 39% year-on-year fall in pre-tax profit from £173m to £105m ($212m; €154m).

The company’s net H1 advertising revenues fell to £717m from £752m compared with the year earlier period. However, ITV is confident that ad sales for the whole year will improve.

Avers chairman Michael Grade: "We have seen some encouraging early signs of recovery ... Ratings decline has slowed and the advertising environment continues to improve, as the UK television advertising market in the first half was essentially flat and is growing in the third quarter."

Data sourced from BBC Online; additional content by WARC staff