ITV profit downs, shares up
March 6, 2008
ITV lost £58 million from the call-TV crisis last year, as tumbling revenues from premium-rate services contributed to a 5 per cent decline in income and a 35 per cent slide in pre-tax profits.
The UK broadcaster has reported revenues of £2.08 billion (E2.79bn) in 2007, down 5 per cent on £2.18 billion the year before, while profits before tax were £188 million, 35 per cent down on the £288 million recorded in 2006.
The company said revenues from premium-rate services – including the now discontinued ITV Play channel and late-night strand – were down by £58 million following the various phone vote scandals.
Michael Grade, exec chairman, pointed out viewing share, both across all ITV channels and on ITV1 was up as was the company's share of overall TV ad take. He said the next challenge was to increase the contribution from ITV Productions by upping its commission wins.