ITV reported a globally satisfactory set of results for H1 16 with consolidated external revenue up 11% to £1,503m (+£147m from H1 15), despite flat advertising revenues. Adjusted EBITA rose by 10% to £438m but reflected a 36bp drop in profitability to 29.1%. Adjusted EPS improved by 10% to 8.5p (2015: 7.7p) and the group has declared a 2.4p interim dividend, up 26% and slightly above our forecasts (2.28p). Note that, as the Studios business grows internationally (50% of rev
11 Aug 2016
Wider economic uncertainty ahead...
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ITV PLC (ITV:LON) | 69.6 -0.1 (-0.2%) | Mkt Cap: 2,796m
- Published:
11 Aug 2016 -
Author:
Véronique Cabioc'h -
Pages:
3
ITV reported a globally satisfactory set of results for H1 16 with consolidated external revenue up 11% to £1,503m (+£147m from H1 15), despite flat advertising revenues. Adjusted EBITA rose by 10% to £438m but reflected a 36bp drop in profitability to 29.1%. Adjusted EPS improved by 10% to 8.5p (2015: 7.7p) and the group has declared a 2.4p interim dividend, up 26% and slightly above our forecasts (2.28p). Note that, as the Studios business grows internationally (50% of rev