ITV back in the black

Mar 3 2010 By nebusiness

Broadcaster ITV today said it returned to annual profit with a £25m surplus after plunging into the red by £2.7bn in 2008.

The group signalled the "worst television advertising downturn on record" was behind it as it estimated a 7% bounce-back in ad revenues in the three months since the year end, with predictions for 15% to 20% growth in April.

ITV also announced that incoming boss Adam Crozier - currently Royal Mail chief executive - will start on April 26.