The network's digital channels, ITV2 and ITV3, performed well with ad revenue up 76%, although its main ITV1 channel was up only 1.9% in comparison. The two new channels are set to be joined by ITV4, which will absorb Granada Men & Motors, with an announcement expected in the spring.
ITV's multichannel viewing share was held at 28.1% in 2004 from the same figure in 2003, largely due to increased competition from multichannel rivals growing their audience share.
Turnover for the year increased by 3% to £2.1bn. This figure was buoyed by the first-time contribution of £18m from morning TV franchise GMTV.
The network had a strong year in terms of drama output, dominating with eight of the 10 top UK shows. Audience figures were boosted through the performance of the UK's leading soap 'Coronation Street' and top entertainment programme 'I'm a Celebrity... Get Me Out of Here!' last November, which again did well for ITV.
ITV, formed by the merger of Carlton and Granada last year, also announced cost savings of £120m brought about by the £4.5bn merger and sale of its non-core assets. This figure was well ahead of schedule.
The network also announced it has reduced its debt to £280m.
Charles Allen, ITV chief executive, said: "ITV has had an outstanding first year, delivering substantial growth in turnover which, combined with cost savings, has delivered a 49% increase in pro forma operating profit."
He added: "We have built a vibrant multichannel proposition and have a clear strategy for future growth."
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