ITV says second half 'highly uncertain'

7th May 2010 07:02

ITV warned that the market outlook for the second half highly uncertain as it reported a 6% rise in revenues.The broadcaster's revenues in the first half increased to £450m compared with £425m last time.Broadcasting and online revenues were also up 6% to £390m, while ITV Studios external revenues rose 7% to £60m (2009: £56m), with internal production revenues at £73m (2009: £75m).ITV television advertising revenues up 8% in the first quarter and currently forecast to be up 22% in the second quarter, though the group said the increase should be seen in the context of declines of 15% for the equivalent period in 2009 and reflecting the impact of the World Cup. Chief executive Adam Crozier said: "ITV's financial performance over the first quarter reflects growth in UK television advertising following last year's record declines. Over two years, revenues are still tracking below 2008 levels." "The outlook for the latter part of 2010 and early 2011 is tough with more testing year-on-year comparators and uncertain market conditions post-election. Given also the long-term challenges facing the free-to-air market, change remains an imperative at ITV and we are focused on driving the transformation of the business over the next 3-5 years."