ITV hit by worries about advertising revenues


Last Updated at 21 Feb 2018, 16:30 GMT *Chart shows local time ITV intraday chart
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Shares in ITV were among the biggest fallers in the FTSE 100 after the broadcaster said it was cautious about the growth in advertising revenue.

The UK's biggest free-to-air commercial broadcaster, home to the X Factor and Coronation Street, said revenues were likely to be lower in May and June.

A fall was expected as the same two months last year were strong, ahead of events such as the football World Cup.

ITV's shares, which until recently had performed strongly, fell more than 3%.

"As we anticipated, tough ITV1 World Cup comparators in June mean we may slightly underperform the market in the first half," said ITV chief executive Adam Crozier.

"While we expect to outperform the market across the whole of the year, we remain cautious about the economic outlook," he said in a statement.

The fluctuating advertising market meant the group should post a rise in revenues in the first half of the year of 1%-2%, ITV said.

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