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ITV - Bid hopes drive up shares

October 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ITV
  • Price:
  • 212.5p
Against a positive backdrop of the shares rising to a 10-year high of 219p fuelled by hopes of a bid from Liberty Global, ITV produced a strong set of interims with turnover, pretax profit and eps rising 7%, 11% and 15% to £1,225m, £312m and 6.1p respectively. The larger broadcast and online division, which dominates free-to-air viewing with a c. 22% share, produced 10% growth in operating profit to £250m. This largely reflects a strengthening economic recovery although performance fluctuated significantly at Easter and around the World Cup. Online, Pay & Interactive was a bright spot with revenues up 20% to £67m reflecting improved content distribution and growth in appetite for video on demand. ...

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