BUSINESS LIVE: Lloyds increases dividend; ITV rises thanks to Love Island; Unilever sales disappoint

ITV enjoyed a 10 per cent rise in total advertising revenue in the first half, above expectations, with Euro 2024 and Love Island proving particularly lucrative for the broadcaster.

Chief executive Carolyn McCall said the performance of ITV’s digital advertising business continued to improve in the six months to June 30, with the group seeing a 17 per cent rise in digital advertising revenue, contributing to a double-digit increase in total advertising revenue.

“This was driven by strong viewership across our broadcast channels and ITVX, with a hugely successful European Championship, a year-on-year increase in Love Island viewership and a number of other great dramas,” he said.

McCall said ITV was confident of delivering higher adjusted earnings before interest, tax and amortisation (EBITA) in the full year, following a year of peak net investment in 2023, and was on track to meet its key performance targets for 2026.

Lloyds Banking Group has raised its interim dividend by 15 percent after a 14 percent fall in pre-tax profit to £3.3 billion, beating forecasts, as its lending margins held firm in the face of increased competition.

Analysts had expected the lender to report a statutory pre-tax profit of 3.2 billion pounds for the six months to the end of June.

Britain’s biggest mortgage lender reported a net interest margin of 2.94 percent for the first half of its financial year, a key profit metric that measures the gap between what the bank pays savers and what it charges borrowers, matching forecasts.

It agreed to pay an interim ordinary dividend of 1.06 pence a share, up 15 per cent from the previous year and equivalent to 662 million pounds.

Lloyds has taken no further action against a regulatory investigation into overcharging by car finance lenders, for which the bank has already set aside £450m to cover potential compensation.