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ITV slips on studio drama

ITV's shares slid after its channels lost audience share and sales at its studio division fell.
May 14, 2014

Shares in ITV (ITV) slid 5 per cent after organic sales at its studio division slumped 10 per cent last quarter. That's a stark contrast to their 20 per cent growth last year.

IC TIP: Buy at 182p

ITV blames the decline on the phasing of programme delivery. Moreover, once acquisitions are included, they fell only 4 per cent to £192m. But that wasn't the only issue: ITV's main and family channels lost 5 and 8 per cent of their respective share of viewing audiences, after growing them last year.

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