Feb 28, 2018

ITV profits drop in tough advertising market

ITV has reported a fall in annual pre-tax profit due to "Ongoing economic and political uncertainty" in the UK. The UK's biggest commercial broadcaster said profit in 2017 fell 10% to £500m, with a drop in advertising revenue partly offset by growth in its studios business. ITV shares dropped nearly 7% in early trading on the London Stock Exchange. The World Cup, which ITV shares with the BBC, starts in June. Ms McCall, who joined ITV from Easyjet in January, said that the advertising environment in the UK had been tough. "The uncertainty has undoubtedly had an impact on the demand for television advertising and therefore as expected ITV's financial performance," she said.

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