Business
Interim Management Statement Quarter 1
Interim Management Statement Quarter 1.
About this update from Stv Group Plc
[{"type":"text","content":"\n \nRNS Number : 0545D STV Group PLC 24 April 2013 \n \n\nPress Release \n7am, 24 April 2013 \nSTV Group plc \nInterim Management Statement - Quarter 1\n \nThe following trading update will be provided to shareholders at the Company's Annual General Meeting to be held at 11 am today.\n \nAs stated at our Annual Results in February, we have made a positive start to 2013 and we remain on track to deliver our long term strategic aims. During the period, airtime trading; growth in the digital and productions business; and performance against our KPI targets are in line with the Board's expectations for the current financial year. \n \nIn January the award of the new local TV licences to STV to provide services to Glasgow and Edinburgh was announced. These new services will reach over 50% of the Scottish population and will support the continued strengthening of the portfolio of services we offer to our audiences and consumers. The services will be delivered through an innovative partnership with leading universities: Glasgow Caledonian University and Edinburgh Napier University. \n \nThe consultation process by Ofcom on the renewal of the Channel 3 licences is currently ongoing and STV is engaged with the regulator on this as we seek to secure an early decision on the renewal of our licences. \n \nThe Group's bank syndicate has also confirmed the extension of the current bank facilities to 31 March 2016 subject only to the extension of the Channel 3 Licences.\n \nSTV's airtime revenues in Q1 have performed in line with our February trading update, up 3% i...