ITV weathers Brexit slowdown with revenue growth

ITV has reported stronger-than-expected first-half earnings despite weak advertising income, showing that new boss, former EasyJet chief Carolyn McCall, will inherit a media group better placed to withstand economic downturns than in the past.

Shares in Britain’s biggest free-to-air commercial broadcaster rose 4% after the group reiterated its full-year targets helped by revenue growth from its programme production and online businesses.

That helped to cushion an 8% fall in advertising revenue recorded by its network of television channels, which it attributed to uncertainty sparked by Brexit and an inconclusive UK general election.