ITV Full-Year Profit Jumps

ITV PLC ITVPY reported a gain in its net profit for the year to December 31. ITV's net profit for the year climbed to 466 million pounds ($715 million), versus a year-ago profit of GBP326 million, while EPS jumped to 11.5 pence from 8.1 pence. Its pretax profit rose to 605 million pounds for the full year, versus 435 million pounds in the year-ago period. Adjusted profit before tax gained 23% to 712 million pounds from 581 million pounds, while adjusted EPS rose 23% to 13.8 pence from 11.2 pence. Total revenue surged 7% to 2.96 billion pounds, compared to 2.75 billion pounds last year. Its revenue from external sources climbed 8% to GBP2.59 billion, while advertising revenue surged 6% to GBP1.63 billion. Revenue at ITV Studios jumped 9% to GBP933 million. The company's board proposed a dividend of 4.7 pence per share for the full year. ITV shares fell 2.96% to close at $34.05 yesterday.