Newspaper article Manchester Evening News

ITV Profit Fear amid Brexit Uncertainty

Newspaper article Manchester Evening News

ITV Profit Fear amid Brexit Uncertainty

Article excerpt

BROADCASTING giant ITV has posted a fall in annual earnings and warned that sales and profits will come under pressure amid Brexit uncertainty.

The group booked a 4 per cent drop in underlying earnings to £810m for 2018.

It said Brexit woes are set to see total advertising fall 3pc to 4pc over the first four months of 2019, and down by as much as 17pc in March.

Sales and profits are set to be hit in the half-year as it also comes up against tough comparatives from last year's Football World Cup boost.

Shares fell 5pc after the results.

The figures came as the company said it was in the 'concluding phase' of discussions with the BBC over a new on-demand platform called BritBox to rival the likes of Netflix, and is working towards a formal agreement. ITV will invest up to £25m in the venture this year and around £40m in 2020. …

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