Advertising resurgence boosts ITV profits

BROADCASTING group ITV posted a 42% increase in half-year profits yesterday after seeing advertising revenues jump to the best level since the dotcom boom.

The British group formed from the merger of Granada and Carlton earlier this year said first-half advertising revenues from all ITV channels had improved by 4.9% on 2003 and were estimated to be up 5.5% in the current quarter.

Chief executive Charles Allen said the newly-created company had delivered on all aspects of the merger, with cost savings achieved six months early.