The Ten Network Holdings Ltd said it saw significant improvement television advertising markets as it returned profitability in the first half.

Sydney-based Ten Network said in a statement that it pocketed net profit of $58.70 million during the six-month period ended February 28, 2010 as compared with a net loss of $79.7 million in the previous corresponding period.

In the previous period, the massive loss included writedowns of $138.4 million, mostly from its outdoor advertising assets.

Group revenue during the six months jumped 1.3 per cent from $468 million to settle at $474.3 million. Second quarter TV ads revenue climbed by more than 12 per cent and the group expects the growth to reach nearly 20 per cent in the current quarter to May 31. Grant Blackley, the head of TV operations at Ten Network, further added, "We are also experiencing greater visibility and longer lead times on our booking cycle."

But, the company has not declared any dividend. In the after-hours trading, shares in Ten Network were trading at $1.89-a-share, up 1.6 per cent, while the broader market was down by 0.2 per cent.