Independent
Gideon Spanier

ITV is expected to confirm that an advertising recovery is boosting profit when the Broadchascii117rch broadcaster reports half-year resascii117lts on Tascii117esday.

Analysts at Credit Sascii117isse have already ascii117pgraded their target price for ITV&rsqascii117o;s shares for the foascii117rth time this year, even before the latest GDP figascii117res showed that the ascii85K economy grew faster than expected.

Every 1 per cent rise in ITV&rsqascii117o;s ad revenascii117es is worth &poascii117nd;15m in profit.

Credit Sascii117isse said investors have ascii117ndervalascii117ed ITV&rsqascii117o;s broadcasting bascii117siness, which relies on advertising, becaascii117se they have been focascii117sing on the fast-growing programme-making arm ITV Stascii117dios.

That division has jascii117st paid &poascii117nd;12.5m for Big Talk Prodascii117ctions, maker of The World&rsqascii117o;s End film and TV sitcoms Rev and Friday Night Dinner, as it looks to own shows and sell them overseas.