Wednesday preview: ITV to report increase in 2015 earnings, analysts estimate

ITV reports its full year results on Wednesday with analysts’ penciling in an increase in earnings off the back of a strong performance by its television production business ITV Studios.

The City predicts earnings per share for the year of 16.1p, up from 13.7p in 2014.

Numis estimates EPS of 16.0p and pre-tax profit of £830m, compared to £605m a year earlier, boosted by net revenue growth of 5.5%.

“We expect a strong contribution from ITV Studios with robust organic growth (9m +9%) supplemented by a first time contribution from Talpa,” said analyst Paul Richards.

“We forecast NAR growth of +4% in 2016, with a strong H1 (Numis estimate +6%) boosted by football championships UEFA Euro 2016 and a softer second half (+2%) against the Rugby World Cup comparative.”

ITV announced last March that it has agreed to buy Talpa, the entertainment show producer behind The Voice, for £355m.

In its third quarter trading update the company also said that its ITV Studios unit goes from “strength to strength” with revenue up 28% , driven partly by the Talpa acquisition and solid growth in the US and Global Entertainment.

Numis retained its ‘add’ recommendation and target price of 300p.

Wednesday 02 March

INTERIMS
Clinigen Group, Dalata Hotel Group

INTERIM DIVIDEND PAYMENT DATE
Cohort, Stagecoach Group

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Costain Group, Dignity, Intertek Group, ITV, Laird, Nichols, Tarsus Group

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Driver Group

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