‘For Sama’ Producer ITN Productions Enjoys Record Year, But Parent Company Warns Of Coronavirus Risks

The production unit was boosted by commissions around the December general election, its exclusive ITV documentaryfor ViacomCBS’s UK network Channel 5.

Overall, ITN’s group revenue stood at £136M last year, which was an increase of 7% on 2018’s figure of £127M. ITN recorded a pre-tax profit of £2.4M in 2019, up 85% on the previous year’s £1.3M. Its operating profit fell 7% to £6.2M due to overheads and property costs. The company listed coronavirus among its “principal risks and uncertainties.” ITN said it is afforded some protection by its long-term news contracts with ITV, Channel 4 and Channel 5, but the pandemic has hit its sports production and advertising divisions, increased technology costs with home working, and will have a “material negative impact” on its £142M pension deficit.

, in areas including sport production and advertising, although these divisions remain open for business. ITN’s earnings also revealed that it has put in place a hiring freeze.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Special Report: Countries, companies risk billions in race for coronavirus vaccineIn the race to develop a vaccine to end the COVID-19 pandemic, governments, charities and Big Pharma firms are sinking billions of dollars into bets with extraordinarily low odds of success. Worth it A necessary risk Covid_19 Vaccines Here we go. .....it’s a “numbers game”.
Source: Reuters - 🏆 2. / 97 Read more »