Business

ITV's shares soar after strong trading update

Tory MP Nadine Dorries, one of this year's contestants in the ITV1's I'm A Celebrity
Image caption I'm A Celebrity is one of ITV's biggest hits

Shares in ITV have soared by 9% after investors welcomed the broadcaster's latest trading statement.

Boosted by ratings winners such as I'm A Celebrity, ITV said its programme-making ITV Studios arm should make profits of more than £100m this year.

The company also said that declining advertising revenues had started to level off and were likely to be flat over the key Christmas period.

Overall revenues rose 20% in the first nine months of 2012 to £498m.

Other recent ITV productions that have been popular overseas are its Titanic mini-series and reality TV show Come Dine With Me, which is shown on Channel Four.

The rise in revenues came despite ITV's share of UK viewing figures to date falling by 3%, with its main ITV1 channel down 6%.

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