ITV shares rise as group reports 13% revenue jump

10th November 2015


ITV shares have enjoyed a 2% gain in early trading as the broadcaster reported a 13% rise in revenues for the nine months to the end of September.

By 08:50 on Thursday, the home of The X-Factor has witnessed its stock edge up by 4.6p to 261.40p.

It appears England’s early exit from the Rugby World Cup failed to dent progress, as in its latest market update the group reported that total external revenues for the period were more than £2bn, up from £1.8bn, a year earlier.

ITV’s Studios arm witnessed a 28% rise in revenues, driven chiefly by acquisitions and 9% organic growth, according to the group.

ITV chief executive Adam Crozier said all parts of the business are performing well and that the group was “on track for another year of double digit profit growth”.

He added: “Our Broadcast & Online business again delivered good growth with advertising revenue up 8% in Q3 and Online, Pay & Interactive up 29% over the nine months.

“As we expected, share of viewing has improved in the second half driven by strong performances in Daytime, the Soaps and the Rugby World Cup, and continuing this trend remains a key focus for the business.

“We are confident of further good growth across ITV for the remainder of this year and into 2016 as we continue to exploit our integrated producer broadcaster model in the UK and to build a global content business of scale.”

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