ITV has announced that its full-year pre-tax profits slipped from £311 million to £288 million.
Turnover for the year to 31 December 2006 was £2.18 billion, compared to £2.19 billion in 2005.
Digital channels showed strong growth, with revenue up 41% at £157 million, partly offsetting ITV NAR down 12% at 1.28 million.
ITV content external sales were up 18% at £282 million in 2006, with UK production revenue outside ITV up 12%.
Michael Grade, ITV executive chairman, said: “Our overall strategy is right, but we need to improve our allocation of resources in order to accelerate the rate of improvement across all our businesses.
“ITV is a hugely popular brand with the UK’s largest family of commercial channels, driven by quality programmes from the biggest and most successful commercial production business in the UK.
“This in turn enables us to extend our value chain with online distribution. These unique strengths in brand, content and distribution are cause for considerable optimism in our ability to deliver real value for our viewers, advertisers and shareholders.”
ITV yesterday suspended all premium rate phone-ins and interactive services, and took digital quiz channel ITV Play off-air, after it admitted to overcharging red button users by a combined total of £200,000 on eviction votes for The X Factor.
Deloitte will be reviewing the broadcaster’s procedures on a show-by-show basis.
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