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ITV 9-month Total Revenue Down 1%; Says On Track To Deliver FY View

ITV Plc (ITV.L) said Tuesday that total revenue for the nine months ended 30 September 2019 declined 1 percent from the year-ago period and said it is on track to deliver its full-year guidance.

For the nine months ended 30 September 2019, ITV's total revenue declined 1 percent to 2.58 billion pounds from 2.62 billion pounds in the year-ago period. Total external revenue declined 2 percent from last year to 2.21 billion pounds.

Broadcast & Online revenues decreased 3 percent to 1.46 billion pounds, while ITV Studios revenues rose 1 percent to 1.116 billion pounds with organic growth flat, at constant currency.

Looking ahead, ITV said it is confident in delivering its 2019 full-year guidance. The company added it is confident ITV Studios will deliver revenue growth of at least 5 percent, at a 14 percent to 16 percent margin.

ITV added that its cost program is on track to deliver 20 million pounds of savings this year, and 55 million pounds to 60 million pounds over the four years to 2022.

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