Carlton Communications, Britain's second largest independent television broadcaster, announced annual headline profits before tax of £342.2 million – an increase of 8%. Revenues increased by 7% to more than £2 billion.

Chief executive Gerry Murphy was bullish: "We're making progress on all fronts – expanding in ITV, driving ONdigital towards one million subscribers, growing our content and developing Technicolor's digital businesses," he said.

Murphy revealed, however, that ONdigital, the digital TV joint venture with Granada Media, is still in the red with Carlton’s share of the annual loss amounting to £143.2m.

There was just one other cloud in Carlton’s clear blue sky: a fourth quarter decline in advertising revenues. Despite this, the full year saw ad income grow to £692m, 8.8% up on 1999.

News Source: CampaignLive (UK)