MediaCity move progressing, says ITV

ITV has said that the move of staff from its Quay Street base in Manchester to MediaCity;UK in Salford was now “well under way”.

The company, whose new production facility for Coronation Street is also onsite, said the relocation would provide more modern offices for everyone working in Manchester and improved technologies.

It added that the investment in the Manchester relocation and in new technology, including upgrading all of its regional TV studios with HD equipment, would lead to an increase in capital expenditure in 2012 to £70-80m, compared with £43m in 2011.

Thankfully, the firm is generating enough revenues to facilitate this. This morning, it announced a 24% increase in adjusted profits before tax to £398m as revenues grew by 4% to £2.14bn.

CEO Adam Crozier said: “We’re now almost two years into our five-year transformation plan and our continued growth in revenue and profit – at a time when the advertising market is broadly flat – demonstrates that we’re performing in line with our strategic priorities.”