ITV sees a slowdown in its advertising revenue growth

ITV's growth in advertising revenues slowed in the third quarter of the year and it remains "cautious on the outlook for 2012".

The broadcaster's net advertising revenues in the first nine months of 2011 rose by 2% compared with a year earlier, slowing to growth of 1% in the three months to 30 September.

Despite the slowdown, ITV said it remained on target to outperform the wider TV advertising market this year.

Its total nine-month revenues rose 4%.

They increased to £1.52bn from £1.46bn a year earlier.

ITV said its advertising revenues have been helped by broadcasting this year's Rugby World Cup and popular shows including X-Factor.

Shares in the broadcaster were up 3.8% in morning trading.

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