Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

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  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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  Print      Mail a friend       Annual reports

Thursday 14 May, 2009


Interim Management Statement

RNS Number : 2160S
14 May 2009

ITV plc Interim Management Statement

14th May 2009

ITV plc issues the following Interim Management Statement in advance of the Company's Annual General Meeting to be held at 11 am today.  

Q1 performance

  • Group revenues £425m (2008: £492m).

  • ITV plc net television advertising revenue (NAR) was down 15%, ahead of total UK television advertising market, which was down an estimated 16%.

  • ITV Family held its audience share at 23.4% (2008: 23.5%) with ITV Family share of commercial impacts (SOCI) at  40.2%  (2008: 41.4% ).

  • Global Content external revenues were £56m (2008: £58m). Including internal revenues, total Global Content revenues were £131m (2008: £133m). 

  • unique users increased by over 30% to a monthly average of 7.1m with video views up by over 150%. 

Q1 revenues








Global Content
















Cost savings

ITV is making good progress towards delivering the previously announced savings of £155m for 2009.  These savings will be weighted to the second half of the year.

Reflecting this progress and ITV's continued determination to address its cost base, ITV is committing to a further £40m of cost savings across the business from 2010.   As a result, total cost savings will rise to £215m in 2010 and £285m in 2011.


UK TV advertising remains weak, but ITV continues to outperform the market. ITV plc NAR was down 16% in April and is forecast to be down 16% in May and 18% in June. Over H1, ITV plc NAR is forecast to be down 16%, ahead of the total market which is estimated to be down 17%.

ITV1 has maintained its lead over BBC1 in peak and has aired the UK's highest rating entertainment programme (Britain's Got Talent), highest rating new drama (Whitechapel) and highest rating sporting event (England vs Ukraine).  ITV1 SOCI was down 6% in Q1.

Global Content

International production and distribution revenues in Q1 were positively impacted by year on year currency movements and for the full year will benefit from new series of I'm A Celebrity on NBC in the US.  UK production has been impacted by the tough trading environment, with growth in factual and entertainment revenues offset by a reduction in UK drama.


Despite tough economic conditions in the online display market, ITV held online revenues in Q1.  In April, unique users and video views both reached record levels. Unique users were up over 70% to 11m and video views increased by over 300% to reach 25m


To date in 2009 and as previously announced, ITV has confirmed £108m of covenant-free bond financing and loans, comprising the following: 

  •  a loan of £50m, which may be extended by the lender to a total of £200m; and

  •  £58m raised by issuing bonds with a face value of £100m paying a 5.375% coupon under 

     ITV's existing 2015 bond programme


The OFT is expected to make a recommendation to the Competition Commission following its review of Contract Rights Renewal in spring 2009. Lord Carter's final Digital Britain report, covering public service broadcasting and other issues, is expected to be published in June 2009.  


The Board has commenced the CEO selection process.  It is the Board's intention that the appointment will be made no later than the end of 2009.

Michael Grade, Executive Chairman of ITV, said:

'The television advertising market remains weak. However ITV continues to outperform the market, reflecting the continued strength of our on-screen performance, particularly in peak time.  In addition, we are holding our content revenues in tough domestic and international markets and we are attracting record users online.  

'In March we gave details of ITV's plans for responding to the difficult market conditions we face. We are making good progress in implementing these plans, although we currently expect the phasing of profits across the year to reflect the weighting of cost savings to the second half.  

'We have since confirmed our intention to dispose of SDN and agreed new financing arrangements, together with additional savings.  The Board has also set in motion the process for management succession.  

'We continue to press for rapid regulatory progress and are encouraged by the growing support for public funding to sustain regional news, ahead of the publication of the final Digital Britain report next month.

'The Board continues to take the steps necessary to steer the Company through these challenging times.'    



Key performance indicators for the 3 months to 31 March 




ITV1 adult impacts (bill)




ITV family adult SOCI (%)




Content revenues, inc internal (£m)



(2) unique users - April (mill)



79 video views - April (mill)




2.   Figures for commercial impacts are based on BARB / DDS data for adults and viewing figures 

      are based on BARB / Infosys data for individuals. Video views based on internal ITV data for unique user figures are based on Omniture data


3.    Figures for NAR are based on ITV plc estimates and current forecasts.  ITV family includes:

       ITV1, ITV2, ITV3, ITV4, CITV, GMTV1, GMTV2, Men&Motors and time-shift variants. 


4.    Figures presented in this interim management statement are not audited.  This

       announcement contains certain statements that are or may be forward-looking with respect to

       the financial condition, results or operations and business of ITV. By their nature forward-

       looking statements involve risk and uncertainty because they relate to events and depend on

       circumstances that will occur in the future. There are a number of factors that could cause

       actual results and developments to differ materially from those expressed or implied by such

       forward-looking statements. These factors include, but are not limited to (i) adverse changes

       to the current outlook for the UK television advertising market, (ii) adverse changes in tax

       laws or failure to achieve regulatory relaxation, (iii) the risks associated with the introduction of

       new products and services, (iv) pricing, product and programme initiatives of competitors,

       including increased competition for programmes, (v) changes in technology or consumer

      demand, (vi) the termination or delay of key contracts and (vii) fluctuations in exchange rates.

For further information please contact:


Christy Swords, Director of Investor Relations          Tel: 0207 156 7022

Pippa Strong, Head of Investor Relations                   Tel: 0207 156 7039


Ruth Settle, Director of Corporate Communications  Tel: 07946 346 698

Louise Evans, Head of Corporate Communications  Tel: 07825 680 994

Tulchan Communications Group                            Tel: 0207 353 4200

Andrew Grant

Susanna Voyle

This information is provided by RNS
The company news service from the London Stock Exchange