ITV feels £39m IFRS profit hit
Amortisation charges take toll of broadcaster's figures
Amortisation charges take toll of broadcaster's figures
UK broadcaster ITV has said that the switch to IFRS would have hit profits before tax by £39m last year.
In its results for the year ended 31 December 2004, the company said that, had it reported under IFRS, despite earnings before interest, taxation, and amortization (EBITA) remaining ‘virtually unchanged’ at £254m, profits before tax would go down to £168m, £39m less than under UK GAAP. This is largely due to an increase in amortization charges.
IFRS adoption, the company said, would have minimal further impact on EBITA but it would reduce pre-tax profits for the current year.
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View article61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View articleWhen employees publish opinion and statements on social and other online mediums, they may be leaving themselves open to interpretation of codes of et...
View article