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ITV's profit falls as ad market challenges bite

Mar 01, 2018 - City A.M.
Board and Executive Moves

ITV'S profit fell in 2017 as a "challenging" environment hit the firm's advertising revenues.

The broadcaster's pre-tax profit fell six per cent to £800m in the year to the end of December, but its total external revenue rose two per cent to £3.13bn driven by double-digit growth in non-net advertising revenue.

As anticipated, ITV yesterday said family net advertising revenue fell by five per cent to £1.59bn, causing ITV's shares to be the worst performers on the FTSE throughout th...