TV producer ITN sets out 2020 vision, with plans to increase revenue by 50 per cent and grow US presence five-fold
Television producer ITN has set out plans to boost its revenue by 50 per cent in the coming years.
The company, which creates content for ITV, Channel 4 and Channel 5, is aiming for a turnover of more than £180m by the end of 2020.
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As part of the 2020 vision, ITN said it wants to grow its presence five-fold in the United States, where it hopes to generate 10 per cent of revenue.
Chief executive John Hardie said: “ITN is evolving from a position of strength and the opportunities are there for the taking.
"After achieving record revenue in the last financial year and six successive years of sustained operating profit growth, we are well placed to build upon that momentum.”
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In 2014, ITN reported total revenue of £112m and an operating profit of £5.76m.
Hardie added: “Our numbers tell the story of our success, with revenues up 25 per cent on 2010.
"The 2020 Vision growth plan sets the bar even higher to release the incredible potential that I am confident ITN can achieve as a world-class production company.”