By Maximilian Clarke
ITV plc have delivered 4% revenue growth on the back of their ongoing ‘Transformation Plan’ despite the challenging economic environment that has seen other advertisers struggle.
Revenue has surpassed £1.52bn for the first 9 months of 2011, whilst net debt £43m.
“The continued management emphasis on cash generation and cost reduction has delivered further improvements to our financial position and we are on track to be net cash positive at year end,” commented ITV’s CEO, Adam Crozier. “This is a substantial improvement given that our net debt stood at £612m at the beginning of 2010.
Maximising audience share in Broadcast remains a key part of our strategy. Our on-screen performance has been strong with ITV Family share of viewing (SOV) year-to-date up 2% year on year to 23.0%. ITV1 SOV is broadly flat at 15.6% and our digital channels have grown strongly with ITV2 SOV up 8% year on year, and ITV3 and ITV4 both up 10%. Online, long form video views are up by 62% in the first nine months of the year.
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