The Queen's Jubilee and the Euro 2012 Football Championships are expected to boost ITV's advertising revenues, with the company predicting a 12 per cent rise in May and a further 17 per cent in June. That should allow it to outperform the market as a whole over the year and we expect the shares to keep rising.
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ITV has already enjoyed a solid start to the year, with non-advertising revenues growing 13 per cent to £565m in the first quarter to 31 March. This was driven by strong performance from ITV Studios, where sales grew 61 per cent to £212m, and is part of chief executive Adam Crozier's plan to expand ITV's non-advertising revenue base.
