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UK ITV’s first-half earnings drop 50% after COVID-19…

LONDON, Aug 6 – ITV, Britain’s biggest free-to-air commercial broadcaster, reported a 50% drop in adjusted earnings for the first half after the COVID-19 pandemic hit advertising revenues and interrupted the production of shows.

The company said ad revenue for the second quarter fell 43%, driving a 17% decline in total external revenue for the six months to end-June to 1.22 billion pounds ($1.61 billion). Adjusted earnings before interest tax and amortization halved to 165 million pounds, it said on Thursday. ($1 = 0.7590 pounds) (Reporting by Paul Sandle; editing by Sarah Young)

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