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ITV Profits Are Up But Cuts Planned Due To Brexit Uncertainty

ITV has increased its pre-tax profits for the first six months of the year by 9% to GBP425m as growth at its production arm offset stalling TV ad revenues. However, it says it plans to cut costs by GBP25m by 2017 due to uncertainty over the fallout from the UK’s Brexit vote. The broadcaster said it expects to see a 1% decline in advertising revenue over the first nine months of this year.

Read the whole story at The Guardian »

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