Business
ITV Preliminary Results 2016
ITV Preliminary Results 2016.
About this update from Itv Plc
[{"type":"text","content":"\n \nRNS Number : 1335Y ITV PLC 01 March 2017 \n\nRebalanced ITV delivers continued growth\nFull year results for the year ended 31st December 2016\nRevenue growth driven by double-digit increase in non-NAR\n• Total external revenue up 3% to £3,064m (2015: £2,972m), including currency benefit\n• Total non-NAR revenue up 11% to £1,855m (2015: £1,664m), now 53% of total revenues\n• Total ITV Studios revenue up 13% to £1,395m (2015: £1,237m)\n• Online, Pay & Interactive revenue up 23% to £231m (2015: £188m)\n• Net Advertising revenue down 3% to £1,672m (2015: £1,719m), performing ahead of the TV ad market\nRebalanced business delivering adjusted profit growth\n• Adjusted EBITA up 2% to £885m (2015: £865m), despite the decline in the ad market\n• Studios adjusted EBITA up 18% to £243m (2015: £206m)\n• Broadcast & Online adjusted EBITA down 3% to £642m (2015: £659m)\n• Adjusted EPS up 3% to 17.0p (2015: £16.5p)\n• Statutory EPS down 10% to 11.2p (2015: 12.4p) impacted by restructuring and earnout costs\nConfident in the underlying strength of the business\n• Broadcast business remains robust: Main channel SOV up 3%, online viewing up 42%\n• ITV Studios has a healthy pipeline of new and returning programmes\n• Building our digital business in Studios and Broadcast\nStrong balance sheet, healthy liquidity\n• Flexibility and capacity to continue to invest across the business and deliver sustainable returns to our shareholders\n• Given our good performance the Board is proposing a final dividend of 4.8p, giving a full year dividend of 7.2p, up 20%, in line with our policy\n• Reflecting ITV's strong cash generation and the Board's confidence in the business, the Board is proposing a special dividend of 5.0p per share, worth just over £200 million\n• The Board is committed to a long term sustainable dividend policy. The ordinary dividend will grow broadly in line with earnings, targeting dividend cover of around 2x adjusted earnings per share over the medium term\nOutlook for 2017 and beyond\n• ITV Studios on track to deliver good organic revenue growth in 2017\n• Online, Pay & Interactive will continue to perform strongly\n• ITV Family NAR forecast to be down around 6% over the first 4 months, impacted ...