ITV looks for first quarter change in fortunes through boost to advertising revenues

Josh Mines
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ITV is looking to report a turnaround in the first quarter through a welcome rise in advertising revenue (Source: Getty)

Television giant ITV is hoping to bounce back from poor results earlier in the year as it prepares to announce first quarter results this week.

Shares nosedived in late February and early March after newly appointed chief executive Dame Carolyn McCall made her first results announcement since becoming ITV head, as pre-tax profit fell six per cent to £800m in 2017.

Investors were left disappointed at the lack of a special dividend for the first time since 2011, as exceptional costs and an increase in programming budget took their toll on the broadcaster.

A one per cent expected boost to advertising revenues in the first quarter is expected to push ITV to better results when chief executive Carolyn McCall reports to investors on Thursday.

Read more: ITV's profit drops as the "challenging" advertising market bites

Advertising revenues are predicted to accelerate further in the second quarter thanks to the Fifa World Cup, which kicks off in July.

The company is also expected to give investors an update on any future costs cuts and give more details on an increase to the programming budget from £1.06bn to £1.025bn in 2018.

It comes ahead of ex-Easyjet boss McCall announcing her 'Strategic Refresh' of the company, which will be released alongside ITV's interim results in July.

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