The Week: City news - ITV revenues up 3 per cent

ITV has revealed a 3 per cent rise in year-on-year revenues to £492 million, with advertising revenues up 2 per cent.

The company also forecast that it will outperform the TV advertising market for the first time since 2000 in the first half of 2008, when it expects net advertising revenue to be flat, compared with a 1 per cent decline across the market. Michael Grade, the ITV executive chairman, said the broadcaster was "eight months into a five-year plan" and asked investors to be patient.