11 March 2005
Broadcaster ITV has attributed rising full year profits onto its increased digital channels' viewing figures.
ITV bosses yesterday reported a 57 per cent rise in overall profits with pre-tax profits rising to £340 million with and advertising revenue up to 4.7 per cent.
The company's three digital channels - ITV2, ITV3 and ITV News - saw advertising revenues increase by 76 per cent.
These results were substantially ahead of City forecasts of £282 million.
"ITV has had an outstanding first year," commented CEO Charles Allen.
Mr Allen added that the results were the best overall by ITV since 2000, with improvements coming from higher-than-expected cost savings from the merger of Granada and Carlton, which totalled £120 million.
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