Granada's share price rose 3.25p to 86.25p by 3:15pm as Carlton revealed that October ad revenues rose 10% and pre-tax profits hit £53.3m, despite a bad start to the first half of the year. Overall, Carlton's losses hit £156.2m after a charge of £188m for defunct ITV Digital was taken into account.
The news has pushed Carlton's shares up 9.89% today to 147.25p. It will also help boost the UK advertising industry, which has had little good news to report this year.
Outgoing Carlton chief executive Gerry Murphy said: "Things began to pick up in September and have been holding up quite well since."
The company said it expects ad revenues to continue climbing for the next three months.
The two companies are set to merge to create a single ITV after Granada revealed its £1bn takeover bid for its smaller rival had been accepted.
A detailed submission has been sent to the government, as part of the regulatory process. However, it could take the Competition Commission as long as a year to make a decision on the plans.
The plans include the controversial merger of ITV's two sales houses, which together control 55% of UK TV ad revenues.
ITV's rivals and the advertising industry are against the merger of the sales houses on the grounds it will create a monopoly.
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