The UK's Granada Media reported on Wednesday full-year operating profit at the lower end of expectations.
Operating profit rose to $360m, down on analysts' forecasts setting the expected sum as high as $386m. Pre-tax earnings were up 11% to $395m, while advertising turnover rose 8.4%.
Granada, which floated out of Granada Group in July, said November advertising revenue was up. The operation had been hit by concerns over falling advertising income.
Granada added that it had already booked enough revenue for December for a 7% increase on December last year. Advertsing revenues as a whole for 2000 are expected to rise by 4.6%.
"The new ITV schedule is performing particularly well and the 2001 schedule is looking very strong," said chief executive Steve Morrison.