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March 4, 2010

ITV back in the black

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by David Allen

The commercial television operator ITV has returned to producing a profit for 2009.

It may small at £25 million but anything is preferable when compared with the £2.7 billion loss the company reported for 2008.

These results come as the advertising revenues are still down by nine per cent, but during the first quarter of the year the broadcaster is expecting a seven per cent rise in advertising.

All of this must be great news for the new chief executive Adam Crozier who started work at ITV on the day the figures were released.

The profits are mainly the result of cost saving moves made by the broadcaster, which are set to continue as ITV gets back onto its feet and moves on into 2010.

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