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:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • 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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Thursday 05 November, 2009


Interim Management Statement

RNS Number : 0082C
05 November 2009

ITV plc Interim Management Statement

5th November 2009

Group highlights

-          UK television advertising market stabilising, with ITV continuing to outperform; ITV net advertising revenues (“NAR”) expected to be flat in Q4.
-          Cost savings on track with ITV set to deliver £155m of savings in 2009.
-          Balance sheet strengthening with £75m of debt repaid, following the convertible bond issue, and net debt reducing year on year.


Nine months to 30th September 2009

-          Group revenues £1,312m (2008: £1,471m)
-          ITV channels have delivered a progressively stronger performance on-screen, with ITV1 extending its lead in peak viewing over BBC1
- revenues have continued to grow, with average unique users increased by over 30% and 150m video views delivered (2008: 45m)
-          ITV Studios (formerly Global Content) external revenues have increased with revenues including internal commissions held flat.

Revenues for 9 months to 30th September 2009 (£m)




ITV Broadcasting & Online












ITV Studios (external revenues)













Trading in the UK television advertising market has continued to improve in the fourth quarter.  ITV NAR is forecast to be flat over Q4, with October down 3%, November down 1% and December up 4%.  Over the full year, total UK NAR is forecast to be down 12%, with ITV continuing to trade ahead of the market.   

John Cresswell, ITV's Chief Operating Officer, said:

"ITV is continuing to deliver a strong operational performance in challenging market conditions. All our channels are performing strongly on-screen and ITV1 is extending its lead over BBC1 in peak time viewing. Both ITV Studios and are delivering revenue growth. We are meeting our cost savings targets and continue to strengthen our balance sheet.  

"Whilst our visibility is limited, the outlook for the fourth quarter has continued to improve and ITV is continuing to outperform the market. With further cost savings and a strong schedule in 2010, including the World Cup, we are confident that ITV is well-positioned to benefit from any market recovery."

  ITV Broadcasting Online

ITV1's autumn schedule has performed strongly across all genres, with programming hits including The X Factor, Benidorm, TV Burp, The Cube, Doc Martin, Murderland and live football. ITV's digital channels have delivered over 10% more impacts with highlights including The Xtra Factor and Peter Andre: The Next Chapter.  

As of 26th October, ITV family's share of peak time viewing year to date was 27.6% (2008: 27.5%), with ITV1's share at 23.1%, ahead of BBC1 at 22.2%.  ITV family SOCI was 39.5% (2008: 40.9%).  ITV1 SOCI was down by 6.5% or by 6.0% excluding STV regions. increased revenues by 45% to £16m.  Average monthly unique users were 8m (2008: 5.9m) with video views more than trebling to 150m

ITV Studios 

Increased external production revenues continue to be driven by strong growth in international commissions, including four ex-UK versions of I'm A Celebrity Including internal production, total ITV Studios revenues were £405m (2008: £405m).


On 13th OctoberITV confirmed the issue of a seven year bond with a coupon of 4% and convertible to equity at a price of 70.44p to raise £135m.  ITV has since repaid £75m of its existing £125m loan to 2013, further reducing the company's scheduled debt repayments over the medium term.  


As at 30th September, the IAS19 pension deficit was estimated at £655m, reflecting a movement in the discount rate from 6.2% at the half year to 5.5%. ITV estimates that previously announced initiatives currently under consultation would have the effect of reducing this IAS19 deficit by around £75-100m. Discussions are continuing with the Trustees over a partnership arrangement under which SDN would provide asset backing to the pension scheme. 


The proposed sale of Friends Reunited to Brightsolid Group Limited has been referred to the Competition Commission, which is due to report by April 2010.  The sales process for the Screenvision US joint venture is continuing to progress.  Following closure of ITV Local as a stand-alone business, ITV has disposed of Scoot.


On 22nd September, ITV confirmed that it had issued legal proceedings against STV plc to recover a gross debt of £38m; net of monies currently withheld by ITV, the debt is estimated at £15-20m. As previously highlighted, minority revenues in 2009 are being impacted by increased STV opt outs.  


As announced on 12th October, the Nominations Committee of the Board is continuing its search for a new non-Executive Chairman, who will lead the process to appoint a new Chief Executive.  


The UK Government is set to consult on the introduction of product placement from 2010 and the Digital Economy Bill is expected to be included in the Queen's Speech later this month.  Ofcom have confirmed that ITV will be able to apply for a review of licence payments from the start of 2010. 

The Competition Commission published its provisional decision on Contract Rights Renewal on 15th September.  

A conference call for analysts and investors will take place from 8.15am on 5th November 2009; the dial-in number is +44 (0)20 8609 3822.  



Unless otherwise stated, all figures refer to the nine month period ending 30th September 2009, with growth compared to the same period in 2008.


Figures for commercial impacts are based on BARB / DDS data for adults and viewing figures are based on BARB / Infosys data for individuals.  "Peak viewing time" is defined as 19:00-22.30.  Video views based on internal ITV data for unique user figures are based on Omniture data. 


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. revenues include all Online revenues, excluding Friends Reunited.  


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 157 6572

Pippa Foulds, Head of Investor Relations

Tel: 0207 157 6555


Ruth Settle, Director of Corporate Communications

Tel: 0207 156 7233

Louise Evans, Head of Corporate Communications 

Tel: 0207 157 3710

Tulchan Communications Group

Tel: 0207 353 4200

Susanna Voyle

Tom Rayner

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