ITV profits show the X-Factor

The group – home to hit shows such as X-Factor whose present judges are Louis Walsh, Kelly Rowland, Tulisa Contostavlos and Gary Barlow, is one year into a five-year transformation plan, which has seen it focus on “re-energising” the creative pipeline of its ITV Studios business.

ITV posted a 45 per cent rise in underlying profits to £240m in the six months to June 30 and said advertising revenues were up two per cent in the half-year, despite a 14 per cent drop in June due to comparisons with World Cup trading a year ago.

It said the revenues figure was likely to be down two per cent this month and by four per cent in August as economic conditions continue to hamper its recovery plan.

ITV Studios’ external revenues increased 11 per cent to £140m, driven by strong international revenues.