ITV reports £97m profit and HD deal with Sky

ITV has reported a pre-tax profit of £97m for the first half of 2010, compared with a £105m loss for the same period in 2009.

The news came as the broadcaster announced plans to move into pay-TV, after agreeing a deal to launch high definition versions of the ITV2, ITV3 and ITV4 channels on Sky.

The move forms part of an overall strategy to increase revenues from non-television advertising sources.

But ITV's Chief executive Adam Crozier said the company still needed to change "substantially".

Emma Simpson reports.

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