ITV profits treble in ad revenue boom

Broadcasting giant ITV reported a near trebling in annual profits today as it benefited from a bounce-back in advertising revenues and hit shows such as 'Downton Abbey' and 'The X Factor'.

The group posted underlying pre-tax profits of £321m (€378m) for 2010, up from £108m (€127m) in 2009, and said it outperformed a resurgent television advertising market.

It hailed a successful World Cup as well as a strong line-up of programmes, particularly in the final quarter, with Downton Abbey drawing an audience of more than 10 million for its final episode.

But ITV1’s share of viewing dropped in 2010 despite the autumn boost and ITV gave a cautious outlook for the year ahead as it fears the impact of tough comparatives and an uncertain wider economy.