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Broadcaster ITV says economic uncertainty to hit ad sales

Reuters  |  LONDON 

(Reuters) - British commercial broadcaster reported a slightly better-than-expected 2 percent rise in 9-month but said the increasingly uncertain economic outlook would take a toll on the fourth quarter.

ITV, which had forecast 1 percent growth for the period, said revenue was expected to be down around 3 percent in the fourth quarter and broadly flat over the full year.

Analysts had cautioned ahead of the trading update that the lack of a political agreement on Britain's departure from the in less than five months' time could deter major brands from spending on

Home to Coronation Street and the X-Factor, has been rebuilding itself in recent years to reduce its reliance on by bulking up its studio production arm.

It said revenue at its Studio business was up 10 percent, meaning the overall group is trading in line with expectations.

"We are very focused on executing our strategy to create a stronger, structurally sound business, building on our strong operating performance in the areas of the business which are under our control," said.

(Reporting by Kate Holton; editing by and Sarah Young)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 13:15 IST
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