observation28 Feb 2018 08:38
Broadcaster ITV said total external revenue in 2017 rose to GBP3.13 billion, slightly above expectations, and up from GBP3.06 billion the year before, though Family net advertising revenue fell 5% "as anticipated" to GBP1.59 billion from GBP1.67 billion in 2016.
Earnings before interest, tax, and amortisation fell to GBP842 million from GBP885 million, in line with consensus forecasts.
The FTSE 100-listed firm raised its full year dividend to 7.8p, up 8%, though it did not propose the payment of a special dividend, against last year's 5.0p special payout.
ITV said the decision not to pay a special dividend was due to "a more normal ordinary dividend, five consecutive special dividends, leverage of 1 time net debt to adjusted EBITDA and the strategic refresh under way".
While the economic outlook "remains uncertain", ITV said it expects Family net advertising revenue to be positive in the first half of 2018, with growth in the first quarter of 1% and "growth" in the second quarter around the football world cup.