ITV's new executive chairman Michael Grade said the broadcaster must focus on improving its programming as the company posted a 19 per cent fall in underlying pre-tax profits due to a poor ad market.
The company, home to Coronation Streetand The X-Factorposted a better than expected total revenue of £2.18 billion, with underlying EBITA at £375 million, also slightly ahead of analyst forecasts at £371 million.
Underlying pre-tax profits were down 19 per cent from last year at £364 million, but also slightly ahead of the £349 million that had been expected by a 11 analysts.
