ITV returns to profit

Posted At : 04 March 2010 10:59 | Posted By : Anne Austin
Related Categories: Television, UK

ITV yesterday announced a pre-tax profit of £25m for the year to the end of December 2009, marking a stark turnaround in fortunes (it made a £2.7bn loss in 2008). Interim chief exec John Cresswell credited ITV's cost-cutting drive and moves to improve the balance sheet, along with an upturn in the ad market, while chairman Archie Norman warned that there was a danger the imminent Budget could derail the nascent ad recovery.

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