'X Factor' boosts ITV profits

The popularity of 'The X Factor' and 'Downton Abbey' helped profits rise 24% at ITV but the broadcaster warned advertising revenues have dropped in early 2012.

ITV, which is also home to 'Coronation Street', said profits rose to £398m (€470m) in 2011 after it gained market share, driven by the strong performance of its digital channels, although there was a 1% decline at its flagship ITV1.