Sales and earnings up at ITV
BROADCASTER ITV has reported a robust set of figures, with growth in sales and earnings.
The group, which will soon complete the move of 500 staff from Quay Street in Manchester to MediaCityUK, Salford, said revenues grew 2,6% to £2.19bn in the year to the end of December.
Pre-tax profits rose 6.4% to £348m.
The ITV Studios arm, which makes shows such as Coronation Street and Jeremy Kyle in Manchester, recorded revenue growth of 16% to £712m during the period. Earnings before interest, tax, depreciation and amortisation grew by 29% to £107m.
Across its channels national advertising revenue (NAR) was flat at £1.5bn, but the group said it was still ahead of the market which was down by 1%.
Adam Crozier, ITV Chief Executive, said: “We’re now almost three years into our Transformation Plan and our strong performance is delivering growth right across ITV, enabling us to build a stronger and more balanced business.
“In 2012 we achieved double digit earnings growth for the third year running, in a broadly flat advertising market. We now have non-advertising revenues of more than £1bn, an increase of £114m or 12% year on year, fuelled by a strong performance in ITV Studios and our Online, Pay & Interactive business.”
He added: “Over the last three years we have consistently grown our revenues, delivered double digit earnings growth and converted that earnings growth to cash to strengthen our financial position.”
