LONDON – U.K. broadcaster ITV on Tuesday reported improved results for the first half of the year as its ITV Studios production arm once again provided a big boost.
The TV company also said it has continued to outperform the overall U.K. TV advertising market as of mid-year.
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The company, whose flagship ITV network airs such shows as Downton Abbey, recorded a 16 percent increase in adjusted profit before taxes to $414 million (£270 million) for the six months ended June 30. Revenue rose 1 percent to $1.75 billion (£1.14 billion).
Advertising revenue for the ITV family declined 3 percent for the first half of 2013. Advertising was up 6 percent in the first quarter, but down in the second quarter amid tough year-ago comparisons when the Euro 2012 soccer tournament boosted results.
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ITV Studios once again was a key growth driver as its revenue jumped 11 percent. Total non-advertising revenue increased 11 percent.
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