ITV hit by advertising slowdown

Broadcaster ITV says profits fell 28% in the first half of the year, and that its advertising revenues will be flat across the first eight months of 2008.

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It also says advertising revenues will fall 20% in September against 2007, when it broadcast the Rugby World Cup. Adjusted pre-tax profit was £91m for the six-month period, but allowing for one-off charges it made a £1.54bn loss.

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