ITV returns to profit, expects advertising revenues to rise

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 3, 2010 -- In a declining television advertising market, the U.K.’s biggest private television company ITV announced in its 2009 preliminary results that advertising revenues forecast will be up, an estimated 7% in the first quarter of 2010, and that April estimated sales will rise 15-20%.

“Whilst ITV advertising revenues are up 7% in the first quarter, this is against the unprecedented declines of the previous year and, over the medium term, we remain cautious”, said Interim Chief Executive John Cresswell.

As for the company’s full-year results, net profit was 91 million pounds ($136 million) in 2009 after a loss of 2.55 billion pounds a year earlier. “Faced with the worst television advertising downturn on record, we took decisive action to improve our operational performance, deliver substantial cost savings and strengthen our balance sheet, added Mr. Cresswell.

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