World Cup and more advertising lift ITV

30th Jul 2014 08:00

The World Cup and the UK's economic upturn helped broadcaster ITV to boost half-year earnings by 11% as it voiced confidence about its autumn programme schedule and said it was on track to expand internationally.ITV said its coverage of the football in Brazil helped it to improve its viewing share during the second quarter.The group said the economic recovery was leading to an improved advertising market, with good growth across all key areas, leaving it well-placed to take market share."We're confident of our strong Autumn schedule with both new and returning drama and entertainment," the company said.ITV said it saw clear opportunities for investing in growth in programmes, online, pay TV and advertising, with an increasing emphasis on international programme production and distribution.Pre-tax earnings before interest, tax, depreciation, amortisation and one-off items (EBITA) in the six months to June 30th rose 11% to £322m.Broadcast & online EBITA increased 10% to £250m, ITV Studios EBITA was up 14% to £72m, adjusted pre-tax profit lifted 16% to £312m and adjusted earnings per share were up 15% at 6.1p.The group saved about £15m in the full year, which it said was £5m ahead of its original target.It proposed interim dividend of 1.4p against 1.1p last time which will be roughly a third of the full year dividend and has pledged to increase its ordinary dividend by at least 20% a year over the next three years.Total ITV Studios revenues rose 2% with acquisitions coming through as expected while organic growth was hit by the phasing in some programmes and the proportion of ITV's programme budget allocated to the FIFA World Cup.It said it was now the biggest unscripted independent production company in the US following the acquisition of Leftfield Entertainment.Chief Executive Adam Crozier said: "We will continue to rebalance the business and grow new revenue streams, both organically and through acquisition."PW