StockMarketWire.com - Television broadcaster ITV posted a rise in first half profit after a recovery in advertising markets helped boost revenue.

Pre-tax profit for the six months through June increased to £133 million, up from £15 million year-on-year, as revenue jumped 27% to £1.55 billion.

Adjusted earnings before interest, tax, depreciation and amortisation almost doubled to £327 million, up from £165 million year-on-year.

ITV didn't declare an interim dividend, citing continuing uncertainty, but said it planned to pay a final dividend of 3.39p for the full year, based on two thirds of a notional full-year dividend of 5p.

Although comparatives for the second half were tougher, ITV said it was encouraged by the advertising outlook, with July expected to be up 68% and August up 17%-to-20% year-on-year.

It added that it was track to deliver its £30 million permanent cost savings target over the full year.

'Our first-half results demonstrate that ITV is emerging from the worst effects of the pandemic,' chief executive Carolyn McCall said.

'We are optimistic about the future, despite the ongoing pandemic risk on our advertising and ITV studios revenues.' Story provided by StockMarketWire.com