ITV’s pre-tax profits hit £300m

A resurgent TV advertising market has helped ITV almost triple its pre-tax profits in 2010, reports MediaGuardian.

ITV posted pre-tax profits of about £300m after a 16 per cent increase in ad revenues, thanks to the World Cup and ratings winners such as X Factor and Downton Abbey.

It means the company has cleared nearly half of its net debt, with analysts predicting the rest could be extinguished by the end of 2011.

ITV is expecting a bumper Easter because of the Royal Wedding, but will stress that tougher year-on-year comparatives are likely from May onwards.

(Source: MediaGuardian)

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