Home Brexit ITV warns of annual earnings drop

ITV warns of annual earnings drop

by Sarah Dunsby
27th Feb 19 8:50 am

Broadcasting giant ITV has posted a drop in underlying earnings of £810m by 4% for 2018, the broadcaster warned sales and profits are under pressure amid Brexit uncertainty.

ITV said Brexit uncertainty has hit advertising by 3% to 4% over the first four months of the year. ITV are in discussions with the BBC to create a new on-demand platform called BritBox to rival the likes of Netflix.

The broadcaster is to invest £65m in to the venture, £25m this year and £40m in 2020.

Carolyn McCall, chief executive said, “We have started 2019 with strong onscreen and online viewing.

“However, the economic and political headwinds for the UK will have an effect on the advertising market and, while ITV is increasingly diversified, we remain sensitive to this.

“We continue to be very focused on delivering in the areas we can control and actively mitigating the factors outside the company’s control.”

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