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SBD Global/July 31, 2014/Finance

ITV's World Cup-Fuelled Pre-Tax Profit From First Half Increases 40% To $423M

ITV has reported a 40% rise in pre-tax profits to £250M ($423M) in the first half, fuelled by the World Cup in Brazil that resulted in a "TV ad revenue surge of 13% in the second quarter," according to Mark Sweney of the London GUARDIAN. The broadcaster increased total revenues across its business by 7% to £1.2B ($2B). Within this, ad revenue rose by 7% to £795M ($1.3B) and online, pay and interactive revenues "surged 20%" to £67M ($113.3M). ITV said that it will "significantly outperform" rivals this year, with "TV ad growth to the end of September expected to be 6% year-on-year" (GUARDIAN, 7/30).
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