ITV profits have the X Factor
BROADCASTER ITV, the maker of Coronation Street, X Factor and Downton Abbey, has shrugged off a fall in its audience share to hike profits by 25%.
The company said revenues rose 11% in the six months to the end of June to £1.5bn, while pre-tax profits rocketed from £312m to £391m, despite a 4% drop in viewing in the first half to 21.1%
Chief executive Adam Crozier said addressing this decline – ITV’s lowest in 15 years – was a “key focus for the year”.
Crozier said: “As previously stated, we expect to see improvements in [the second half of the year] when we have exclusive rights to the Rugby World Cup, as well as a strong slate of high-quality drama including Jekyll & Hyde, Unforgotten and The Trials of Jimmy Rose.
“Looking ahead to 2016, we have now secured the joint rights to Six Nations Rugby to add to our strong schedule of sport, drama and entertainment including the European Football Championships, Beowulf, Britain’s Got Talent and Seth MacFarlane’s Family Guy and American Dad.
“ITV made further strong progress in the first half of the year as we continued to grow and rebalance the company creatively and commercially. Our outlook for the remainder of this year is unchanged and we expect to deliver another strong performance in 2015.”
The company employs around 500 people at its base at the Orange Tower, MediaCity, while Coronation Street is made nearby at a 7.7 acre site next to the Imperial War Museum.
In line with its strong financial performance ITV hiked its interim dividend 36% to 1.9p.
