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ITV sees profits slide

1st Mar 17 10:11 am

What happened?

ITV has seen a 14 per cent fall in pre-tax profits to £553m, this is due to a decline in advertising revenues which fell by three per cent.

The commercial broadcaster said it blamed “wider political and economic uncertainty” for the fall in advertising.

However, it saw a 13 per cent increase in revenue from its ITV Studios division.

Underlying pre-tax profit moved for the year moved from £843m to £847m.

Viewings across the broadcasters channels rose by one per cent, it also saw its share for the main ITV channel increase from 15 per cent to 15.4 per cent.

Chief executive Adam Crozier said: “The continued growth in revenue and adjusted profit, despite a three per cent decline in spot advertising revenues resulting from wider political and economic uncertainty, is clear evidence that our strategy is working and remains the right one for ITV,”

He added: “Whilst our net advertising revenues have declined, we again outperformed the UK television ad market as a whole,

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