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REFILE-ITV says will outperform TV ad market over full-year
November 13, 2012 / 7:26 AM / in 5 years

REFILE-ITV says will outperform TV ad market over full-year

LONDON, Nov 13 (Reuters) - British broadcaster ITV met guidance with flat net advertising revenue (NAR) for the nine months to end-September and said it expected a similar performance for the balance of the year, outperforming the wider market.

The company, home to period drama “Downton Abbey” and reality show “I‘m a Celebrity, Get Me Out of Here” said on Tuesday its total external revenues rose 4 percent to 1.57 billion pounds ($2.49 billion), with non-NAR revenues up 15 percent to 730 million pounds.

ITV said ITV Studios was trading strongly with total revenue up 20 percent to 498 million pounds.

The firm, which has “The X-factor” as the centrepiece of its weekend schedule, ended the period with net cash of 90 million pounds.

It said total cost savings would be around 30 million pounds in 2012, 10 million pounds ahead of target.

“The economic outlook remains uncertain and we continue to see monthly volatility in the UK television advertising market, but the underlying trends have not changed,” said CEO Adam Crozier.

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