ITV has reported a 9 per cent increase in pre-tax profits to £425 million (€506m) in the first half of the year. It said net advertising revenue would slip by about 1 per cent in the first nine months of the year. The broadcaster said revenue increased by 11 per cent in the first half of the year to £1.5 billion. Online, pay and interactive revenue were up 26 per cent to £107 million.

Meanwhile, the company says it will need to cut costs to prepare for economic uncertainty initiated by the UK’s decision to quit the European Union. ITV will target £25 million in cost savings in 2017.

ITV was among the hardest-hit companies by the vote to leave the EU. Its shares plummeted to 154p from 219p following the referendum result.

Other posts by :

1. Euro-bank sets up €500m space fund
2. Revenue jump forecast for Eutelsat
3. Moody’s upgrades Eutelsat’s debt rating
4. Rivada Space Networks wins spectrum dispute
5. Will we take an AI bubble bath?
6. Eutelsat shareholders upset over Rights Issue
7. Amazon Leo satellites en route to French Guiana
8. Deutsche Bank reveals targets for AST SpaceMobile
9. AST SpaceMobile boss outlines benefits

Categories: Articles, Broadcast, Business, Results