ITV says net ad sales flat Jan-Aug

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ITV says net ad sales flat Jan-Aug

06/08/2008 07:07

LONDON (Reuters) - ITV , Britain’s biggest free-to-air commercial broadcaster, said its net advertising revenues (NAR) were flat in the first eight months, compared with a 1 percent decline in the wider market, but would likely drop 20 percent in September.

The overall market would likely drop 17 percent in September, ITV said on Wednesday, where tough comparisons with last September’s rugby World Cup applied.

First-half group revenue rose 3 percent to 1.031 billion pounds, slightly ahead of Reuters Estimates consensus of 1.020 billion pounds, but earnings before interest, tax and amortisation fell 20 percent to 121 million pounds.

The broadcaster, struggling with severe advertising budget cuts in Britain, targeted an extra 35 million pounds of cost savings by the end of 2010 and halved its interim dividend to 0.675 pence.

(Reporting by Georgina Prodhan; Editing by Paul Bolding)