ITV returns to profit
March 4, 2010
Archie Norman, the new chairman of ITV, has said that developing its own content would be crucial to the future of the commercial broadcaster, as full-year figures showed the company had returned to profit.
Figures for the year to December 31st showed ITV turned to a pre-tax profit of £25 million (E27.5m) after a loss of £2.73 billion in 2008. It achieved earnings per share of 2.3p compared with a loss per share of 65.9p in 2009, but the board opted against paying a final dividend for a second consecutive year.
ITV will see Adam Crozier join as its new chief executive in late April, but Norman said a strategic review was already under way as the group faces the challenge of growing revenues with less money and fewer staff.