Member Article

ITV profits climb to £620 million

Profits at ITV have increased for the fourth year in a row as the firm posted EBITA before exceptional items of £620 million, for its 2013 year.

The firm increased broadcast and online revenues to £1.8 billion during the course of the year, a 3% increase on 2012.

US acquisitions, including Thinkfactory Media and High Noon Entertainment, helped ITV’s production business to grow 20%.

Adam Crozier, ITV plc chief executive, said: “ITV has taken another significant step forward with 9% revenue growth and for the fourth year in a row we delivered double digit profit growth. All parts of the business are progressing well as we continue to rebalance ITV. Total non-advertising revenues again grew strongly up £175 million driven by good performances in ITV Studios and Online, Pay & Interactive.

“The investment we have made in content has driven significant revenue and profit growth in ITV Studios - up 20% and 24% respectively - both organically and through the selective acquisitions we have made in the UK and the US.

“Broadcast & Online performed well. We delivered further strong growth in Online, Pay & Interactive up 16% as we again improved the quality and availability of ITV Player and ITV Family NAR was up 2% as the TV advertising market returned to growth.

“Onscreen we’ve had our best year on year performance for ten years with share of viewing for ITV Family up 4% driven by our continued investment in our high quality schedules.”

This was posted in Bdaily's Members' News section by Tom Keighley .