ITV increased its underlying pre-tax profits by almost 20 per cent to £865m in 2015 and has predicted that its Euro 2016 coverage this summer will help it outperform the UK TV advertising market.
In its 2015 full year results ITV said its pre-tax profits were up by 18 per cent and its revenue had grown by 15 per cent to £2.97bn, despite a 3 per cent decline in audience share for its TV channels.
The biggest growth for the UK’s biggest advertiser-funded broadcaster was in its production arm which grew 33 per cent last year to £1.24bn while online, pay and interactive were up 23 per cent to £188m.
ITV’s ad revenue experienced a 6 per cent net growth to £1.719m and the broadcaster announced plans to develop more targeted and innovative advertising with new initiatives including AdSync+ and ITV AdVentures.
It revealed that it expected ad revenue for the first quarter of the current year to be “flat” however its coverage of the Euro 2016 football tournament would see things pick up and ensure that it outperforms its estimate of the UK TV ad market.
As for non-TV advertising , including production, online and sponsorship there was a 25 per cent growth to £1.66bn.
On the back of the successful year the broadcaster said it would return £400m to shareholders with a special dividend of 10p a share in addition to a final dividend of 4.1.