ITV Plc (LON:ITV) releases an interim management statement ahead of its AGM being held today.
ITV (LSE: ITV) this morning highlighted that broadcast and online revenues are up 6% to £465m compared to £440m in 2012, and that it has seen total external revenues rise 1% to £571m, compared to £565 this time last year.
The entertainment giant did, however, see revenue drop by 5% in its ITV Studios sector, though this was attributed to the front-loading of programmes at the end of last year. Double-digit revenue growth is expected over the course of the full year.
Domestic and International growth was also a focal point, as the group confirmed the 100% acquisition of The Garden -- a UK-based production company -- for £18m. They also purchased a controlling stake in US-based High Noon Entertainment for $26m, with a further top-up expected in 2015, depending on performance.
Chief executive Adam Crozier commented:
"Given the longer term visibility we have in our Studios revenues we're confident that we will deliver double digit growth this year. We continue to build on Studios' organic strength with acquisitions in key creative markets - most recently The Garden in the UK and High Noon Entertainment in the US.”
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> Chris does not own any shares in ITV.