ITV PLC (LON:ITV) has said it is planning a gradual return to its offices and productions in line with governmental guidelines.
UK prime minister Boris Johnson is expected to announce a strategy to lift restrictions on Sunday.
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The TV network has been implementing remote working since the start of the lockdown, continuing to broadcast from its six channels.
However, it noted, the coronavirus crisis pushed advertising revenue down 42% in the month of April, although it rose 2% to £500mln in the three months to March.
In the quarter, total external revenue dropped by 7% to £694mln while the main channel’s total share of viewing was 18%, its best quarter since 2009.
The FTSE 100-listed firm is to reduce overhead costs by another £30mln, on top of the £30mln already announced and has delayed at least £150mln of payments.
As of Wednesday, the group had cash in the bank of £100mln, while £630mln and £199mln were available from lending facilities.
Richard Hunter, head of markets at interactive investor, said the pandemic has been "a double-edged sword for broadcasters" as the public spends more time at home watching TV, but advertising revenue is under pressure.
"Prior to the pandemic, advertisers were increasingly using social media and websites to sell their wares and there are now additional constraints on budgets across many sectors, where the advertising budget will be one of the first to be sacrificed," he commented.
"Although the general fortunes of the company will at some point revert to a reliance on regular large sporting events, a benign economic environment generally and an ability to generate original and compelling content in the battle for share of viewing, any recovery could be in line with the broader market."
Shares rose 4% to 74.74p on Wednesday in early trades.
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