Steady progress: ITV H1 2016 results

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Steady progress: ITV H1 2016 results

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Steady progress: ITV H1 2016 results
ITV H1 2016 revenues and EBITA showed double-digit growth year on year, though the greater share came from ITV Studios acquisitions of independent producers and H1 2016 was sequentially down on H2 2015, with ITV Studios accounting for most of the decrease.
TV Family NAR was flat year on year. Though Brexit has led to growing fears of a sharp downturn, ITV appears relatively well placed to handle such an outcome: ITV Main channel 7% uptick in H1 viewing share; £25 million targeted cost efficiencies in 2017; healthy balance sheet.
ITV Studios revenues have doubled in scale since 2011 following 15 acquisitions of independent production companies; yet just how well the underlying business is performing organically is hard to assess due to the bumpiness of short term trends.