ITV has reported a fall in yearly pre-tax benefit because of “ongoing economic and political uncertainty” in the UK.

The UK’s greatest business supporter said benefit in 2017 fell 10% to £500m, with a drop in publicizing income somewhat counterbalance by development in its studios business.

ITV shares dropped about 7% in early exchanging on the London Stock Exchange.

CEO Carolyn McCall said its 2017 execution was “strong” in a “challenging environment”.

She anticipates that 2018 publicizing income will be up 1% in the primary quarter, with a lift from football in the second quarter.

The World Cup, which ITV imparts to the BBC, begins in June.

Ms McCall, who joined ITV from Easyjet in January, said that the promoting condition in the UK had been intense.

“The uncertainty has undoubtedly had an impact on the demand for television advertising and therefore as expected ITV’s financial performance,” she said.

The weaker pound and going with inflationary weights prompted a few sponsors decreasing spending, she said.

High Street retailers and excitement and recreation organizations had cut their TV advertisement spending, yet markets had expanded it.

ITV “had a great start to 2018”, she said.

ITV’s offer of the quantity of TV watchers has developed for the current year, while web based survey has had twofold digit development, she said.