Payroll cuts at ITV and Brit, Dealogic swings to loss

Revenues dropped 11% and operating profit contracted by 30%, but the broadcaster held the bottom line flat. This was supported by a £100m reduction in total staff costs despite average headcount remaining practically unchanged, suggesting a significantly quieter year for variable pay across the group.

The UK arm of the IT consultancy group pushed revenues up 7% past £2.5bn, but margin compression dragged operating profit down 6%. It is a classic case of expanding volume for slightly less, though the sheer scale of the operation provides the sort of cushion you could happily nap on.

The music royalties collector saw revenues rise 8% to £1.25bn, carrying operating profit up in step. A notable detail is found in the related-party notes, where royalties distributed to writer and publisher directors jumped 15% to £147.9m.

Flat revenues at the Dealogic parent gave way to a £41.6m operating loss, a sharp reversal from last year's £203.6m profit. A heavy £228m finance bill dragged the bottom line deep into the red, while the period also saw a $4.7m donation routed to an affiliated charity.

This insurance support entity recorded a 155% jump in operating profit on shrinking revenues following a reduction in the payroll. Headcount dropped 27%, cutting £19m off total staff costs and leaving a much leaner operation behind.