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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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ITV - Another £25m cost savings targeted

September 2016

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:
  • 197p
Fears of a post Brexit slow-down pushed the shares lower but broker Jefferies notes that ITV’s revenue mix has changed significantly from the last downturn with diversification towards program content at ITV studios as well as geographic diversification providing resilience. This and news that no advertisers are cancelling their campaigns meant investors welcomed interim results with relief.Revenues rose 11% to £1.5bn while profits increased 10% to £438m. Eps was up 10% to 8.5p while net debt only rose from £540m in H1 ’15 to £796m after £666m of dividends and acquisitions.Broadcast & online (which attracts the largest audience other than the BBC) increased revenues 3% to £1,061m, outperforming a soggy advertising market ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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