The company said it expects double digit revenue and profit growth at ITV Studios in H1.

UK broadcaster ITV released a trading update on Thursday in which it outlined 14% growth in revenue reaching £755m during the first quarter whilst it highlighted that Brexit fears have impacted some companies TV advertising spend.

The group saw broadcast and online revenue rise by 2% contributing £539million in revenue compared to £530 million in 2015. ITV Studios revenue spiked reaching £322 million from £224 million, a 44% improvement which the group said was driven through new acquisitions.

ITV said that its share of viewing increase by 3% during the period whilst ITV Family share was improved by 1%.

Adam Crozier, ITV plc Chief Executive, said:

We’ve had a good start to 2016 as our strategy of growing and rebalancing the business continues to deliver.

Total revenues grew 14% to £755m in Q1 with non advertising revenue up 34% to £428m, fuelled by further strong growth in ITV Studios up 44% and in Online Pay & Interactive up 17%.

The traditional UK television market is robust with overall viewing and impact volumes up. Our Broadcast business remains strong with ITV main channel share of viewing up 3% in the first four months of the year while our online viewing consumption grew by 22% year on year.

ITV is now a much stronger and more diverse business and we expect to deliver good profit growth in H1.  This is against the backdrop of uncertainty in the UK advertising market, which we have experienced since the debate over Brexit began, and significantly higher share of our programme spend in the first six months.  We anticipate ITV Family NAR in H1 to be broadly flat and ahead of the market.

For the full year we expect ITV Studios to deliver double digit revenue and profit growth driven by recent acquisitions, although as ever its performance will be lumpy across the year. Online, Pay & Interactive is on track for double digit revenue growth and we expect to outperform the UK television advertising market.”