Further losses forecast for Carlton

Jennifer Whitehead,

October 11, 2001

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Further losses forecast for Carlton

LONDON - Carlton Communications is expected to report a pre-tax loss when it posts its full-year results, according to broker ABN Amro.

It has cut forecasts for ITV advertising revenue, blaming the impact of the terrorist attacks in the US on September 11.

ABN Amro has forecast ad revenues to fall by 19%. Its previous estimate was a fall of 14.7%. The new figure would take the forecast for Carlton's 2002 figures to a pre-tax loss of £26m, but this does not take into account the loss-making ITV Digital figures.

The investment bank also cut Granada's expected profit before tax to £100m. Shares in Granada were up 2.2% to 125.7p this morning.

In morning trading, Carlton shares were up 9.5% to 181.25p.

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Marketing