By Jamil Hussein
Date: Thursday 15 May 2008
LONDON (ShareCast) - Broadcaster ITV said its net advertising revenue (NAR) will outperform the overall market in the first half as revenues in the first quarter increased 3%.
The group said its NAR is forecast to be flat over the half-year, ahead of the total market, which is expected to fall 1%. “Forecast for the first half shows us outperforming the UK television advertising market - the first time this has happened since 2000,” said chairman Michael Grade.
ITV NAR was up 2% in the first quarter, while group revenues in the period rose to £497m from £479m in the same period last year.
"Given the wider economic context, the television advertising market has held up relatively well in the year to date. In an uncertain economic environment, ITV continues to deliver advertisers real value and unique effectiveness across ITV1 and its digital channels," said Grade.
“ITV has made further progress in 2008 and the turnaround plan, outlined in September 2007, remains on track,” he added.
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