ITV put its recent ratings woes behind it today by unveiling a 57 per cent rise in profits in its first full-year results as a unified company.

The broadcaster said a combination of rising turnover and lower costs since it was created by a merger of Granada and Carlton in February last year had contributed to the profits surge.

Advertising revenues in 2004 were 4.7pc higher at £1.59 billion and gains were made in all key sectors including retail, food, entertainment and finance.

Pre-tax profits of £340 million were ahead of the £282 million forecast by the City after ITV said cost savings from the merger were "ahead of expectations in both speed and amount".

Details emerged in the week that ITV1 suffered one of its worst-ever ratings slumps, with audiences for the first two months of 2005 down 10pc compared with a year ago.