Broadcaster ITV yesterday saw its profits rocket 40 per cent over the past six months, as the media giant was boosted by the World Cup and an uptick in advertising.
ITV’s total revenue leapt six per cent to £1.38bn, helped by growth in broadcast and online advertising as well as original content sales from its ITV Studios division which generated £402m. Profits hit £250m during the first half of the year to 30 June.
“We see clear opportunities for growth across the business – in content, online, pay and advertising and there will be an increasing emphasis on international content creation and distribution,” said chief executive Adam Crozier.
London-based Liberty Global, the European cable operator and owner of Virgin Media, bought a 6.4 per cent stake in ITV earlier his month from satellite broadcaster BSkyB, leading to speculation that Liberty could mount a takeover bid.
ITV’s shares closed 0.24 per cent at 204.50p.