ITV broadcasts news of £250m special dividend
BROADCASTER ITV, home of Coronation Street and Downton Abbey, has reported a surge in profits for 2014 and a £250m special dividend for investors
Profits rose 23% year-on-year to £712m, adjusted for acquisitions, restructuring costs and other items in the year to December 31.
“ITV delivered another strong performances in 2014,” said chief executive Adam Crozier. “All parts of the business are progressing well.”
The media giant, which has its North West base at MediaCity, Salford, announced a full-year dividend of 4.7p, up 34%, and proposed a £250m special dividend worth 6.25p a share.
Revenue rose 8% to £2.59bn, while net advertising revenue rose 6% to £1.63bn.
The group said 2015 had started well, with net advertising revenue now forecast to be up 11% in the first quarter, and up 4% to 7% in April. That compares to the 6% net advertising growth it recorded in 2014.
Mr Crozier added: “Across ITV we maintained our emphasis on cash generation, cost control and improving margins as we continued to strengthen ITV creatively, commercially and financially.”
The broadcaster moved from Quay Street in Manchester to MediaCity in 2013. It employs around 500 people at its base at the Orange Tower, while Coronation Street is made nearby at a 7.7 acre site next to the Imperial War Museum.
