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CORRECTED-ITV's production arm boosts earnings in tough ad market
March 1, 2017 / 7:18 AM / 9 months ago

CORRECTED-ITV's production arm boosts earnings in tough ad market

(Corrects special dividend to 5 pence per share, paragraph 4)

LONDON, March 1 (Reuters) - ITV, Britain’s biggest free-to-air commercial broadcaster, reported a 3 percent rise in adjusted earnings per share (EPS) as growth in its studios production business more than offset a drop in advertising revenue.

The broadcaster of “Coronation Street” and crime drama “Broadchurch” said net advertising revenue across its channels would be 6 percent lower for the first four months, reflecting the current economic uncertainty in Britain.

The company reported EPS of 17 pence, beating market forecasts, on total external revenue up 3 percent to 3.06 billion pounds, including currency benefits.

It said it would pay a special dividend of 5 pence a share on top of a final dividend of 4.8 pence.

Reporting by Paul Sandle; editing by Kate Holton

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