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ITV says advertising growth in line in first quarter

Reuters - UK Focus

LONDON, May 10 (Reuters) - Britain's biggest free-to-air commercial broadcaster said it had made a solid start to the year with net advertising revenue up 1 percent in the first quarter, as expected, and its studios business performing well.

The company, which is in the middle of a strategic review under new CEO Carolyn McCall, said that while the economic environment remained uncertain, online advertising was growing strongly.

"We expect ITV (Frankfurt: A0BLQP - news) total advertising to be up 2 percent over the first half, but profits will reflect the timing of the football World Cup," it said. "Over the full year we are on track to deliver double digit growth in online revenue and good organic revenue growth in ITV Studios." (Reporting by Kate Holton; Editing by Adrian Croft)