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ITV profits up 25% despite ratings fall ITV profits up 25% despite ratings fall
(1 day later)
Half-year profits at ITV have risen by 25% to £391m as revenue increased across all divisions.Half-year profits at ITV have risen by 25% to £391m as revenue increased across all divisions.
The broadcaster said that net advertising revenue for the six months to 30 June was up 5% to £838m, while revenue from ITV Studios jumped 23% to £496m.The broadcaster said that net advertising revenue for the six months to 30 June was up 5% to £838m, while revenue from ITV Studios jumped 23% to £496m.
However, ITV's share of viewing across its portfolio of channels fell 4%.However, ITV's share of viewing across its portfolio of channels fell 4%.
ITV chief executive Adam Crozier said that improving ratings was a "key focus" for the year.ITV chief executive Adam Crozier said that improving ratings was a "key focus" for the year.
A decline in viewing for the main ITV channel was offset by a 2% rise across its digital channels. A decline in viewing for the main ITV channel was offset by a 2% rise across its other channels.
"Our viewing performance was impacted by strong competition from the BBC, no major sporting event and some of our shows not performing as well as we had expected," the company said."Our viewing performance was impacted by strong competition from the BBC, no major sporting event and some of our shows not performing as well as we had expected," the company said.
The company expects its share of viewing to increase in the second half of the year on the back of exclusive rights to events including the Rugby World Cup and a range of dramas including Jekyll & Hyde starring Richard E Grant and Natalie Gumede.The company expects its share of viewing to increase in the second half of the year on the back of exclusive rights to events including the Rugby World Cup and a range of dramas including Jekyll & Hyde starring Richard E Grant and Natalie Gumede.
Mr Crozier said the company continued to expand and rebalance creatively and commercially in the period.Mr Crozier said the company continued to expand and rebalance creatively and commercially in the period.
External revenue was up 11% to £1.36bn, while revenue from online, pay and interactive rose 27% to £85m.External revenue was up 11% to £1.36bn, while revenue from online, pay and interactive rose 27% to £85m.
Interactive revenues were broadly flat due to a fall in telephone voting for entertainment programmes such as the X Factor, but ITV said voting on programme apps was growing strongly.Interactive revenues were broadly flat due to a fall in telephone voting for entertainment programmes such as the X Factor, but ITV said voting on programme apps was growing strongly.
ITV Studios reinforced its position as the UK's biggest commercial production company with four acquisitions in the first half.ITV Studios reinforced its position as the UK's biggest commercial production company with four acquisitions in the first half.
They included Talpa Media, the Dutch creator of entertainment formats such as The Voice, and Poldark producer Mammoth Screen.They included Talpa Media, the Dutch creator of entertainment formats such as The Voice, and Poldark producer Mammoth Screen.
Shares in ITV rose 3.5% to 272.9p in morning trading, valuing the company at almost £11bn. The company's shares have risen by a third in the past 12 months.Shares in ITV rose 3.5% to 272.9p in morning trading, valuing the company at almost £11bn. The company's shares have risen by a third in the past 12 months.
The interim dividend was raised by 36% to 1.9p a share.The interim dividend was raised by 36% to 1.9p a share.