Turnaround plan on track, says ITV

Broadcaster ITV said its turnaround plan was on track today as it looked set to outperform the UK advertising market for the first time in eight years.

The group said its net ad revenues were up 2% in the first three months of this year. It predicted the key measure would be flat for the company’s first half, better than a 1% dip for the total market.

ITV also said its viewing share across its family of channels, which includes flagship ITV1, was up 1.6% at 23.4%.

Executive chairman Michael Grade, who joined the broadcaster at the end of 2006, said: “ITV has made further progress in 2008 and the turnaround plan, outlined in September 2007, remains on track.

“The forecast for the first half shows us outperforming the UK television advertising market – the first time this has happened since 2000.”