ITN announces record year in financial report

ITN announces record year in financial report

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By Ed Gove,
Wednesday, 4th May 2016
John Hardie, ITN, RTS
John Hardie at the RTS Cambridge Convention in 2013 (Credit: Paul Hampartsoumian)

ITN has announced record operating profits for a sixth consecutive year, up by over £1m from 2014.

The production company has announced record revenues of £120m in its sixth consecutive year of operating a profit growth.

Also historically known for its TV journalism, ITN has built upon its traditional territory in areas including advertising, sports journalism, current affairs and documentaries - including the RTS award-winning documentary for Channel 4, Dispatches: Escape from ISIS.

The company reported that operating profit on ordinary activities increased by 19% year-on-year to £6.9m (2014: £5.8m), a threefold increased from 2011.

Revenues for the ITN Group rose by 7% to a record £119.7m, up from £112.0m in 2014.

ITN Productions have also reported an operating profit of 56% YoY to £2.5m, from £1.6m in 2014, and a 42% increase in revenue to £23.7m (2014: 16.7m).

Operationally, ITN are also reporting a successful year, with ITV News, Channel 4 News and 5 News delivering “award-winning, agenda setting journalism for every corner of the globe.”

In 2015, coverage across all channels was focused on several key stories including the 2015 General Election, the Paris terror attacks and the ongoing refugee crisis.

ITN’s Thomas Cook investigation for ITV News also won an RTS Journalism Award in 2016.

ITN CEO John Hardie said “The last few years have undoubtedly been some of the most successful in ITN’s history, producing a huge range of work for an ever-increasing number of clients and exceeding the challenging financial targets we set back in 2010.”

In an interview with the RTS, he spoke of ITN's plans for expansion into the American market: "We’ve made great strides in the US in the last couple of years” he said.

“Yes, there is plenty of competition, but we need to be very clear about what our competitive advantages are. We will win business through the speed and quality of what we do.

“We can make high-quality program­mes very quickly. That’s what our clients like about us."

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ITN has announced record operating profits for a sixth consecutive year, up by over £1m from 2014.