Shed Media Group saw profits exceed analysts' expectations as the British TV production company posted adjusted pretax profits of £11.9 million, increasing its share prices by 7 percent, Reuters UK reported today. The surge was attributed to "recommissions in the UK and growth in the United States."

Analysts forecasted profits of £9.75 million. "In the UK, our robust returning brands protect us in a difficult commissioning environment," Chief Executive Nick Southgate told reporters in a conference call, according to Reuters.

Shed produces a couple of shows for the BBC, and Southgate said that relationship shielded it from the current lack of commissioning across the industry that hurt UK commercial television station ITV, Reuters reported.