A BOOST in advertising revenue has helped broadcasting group ITV to a 42 per cent increase in profits.
The group, formed by the merger of Granada and Carlton earlier this year, said first-half advertising revenues from all ITV channels improved by 4.9 per cent on last year and were estimated to be up 5.5 per cent 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.
He pledged to raise the target from £100m a year to £120m, but did not give details of how the savings would be achieved.
In the figures, posted yesterday and covering the six months to June 30, ITV said operating profits rose 32 per cent on the previous year to £123m, while bottom-line pre-tax profits came in at £132m.
The company said it had a strong autumn schedule in place, with stars including Martin Clunes and Ray Winstone among those featuring in programming.
It will also launch ITV3, a digital station aimed at over-35s, on November 1
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