Business
Pre-close Trading Update
Pre-close Trading Update.
About this update from Stv Group Plc
[{"type":"text","content":"\n RNS Number : 5631U STV Group PLC 26 June 2009 \n \n26 June 2009\n\nSTV Group plc Pre-close Trading Update\n\nAhead of publication of its interim results on 27 August 2009 and entering a close period, STV Group plc is issuing the following trading update.\n\nThe national advertising market continues to be challenging, however, we are encouraged by regional advertising revenues which have improved significantly since the first Quarter and are in line with expectations at -12% for the second quarter and -19% for the first half. This compares with the ITV Network performance of -19% in both Q2 and H1, with STV's national revenues broadly in line with this performance. Despite the challenging market, we continue to grow our share of the Scottish market in line with our growth KPI targets. We remain focused on delivering cost efficiencies throughout the business to help mitigate the effects of the economic downturn and maintain our focus on growth opportunities. Our strategy of increased peak time programme opt-outs from the ITV network schedule is simultaneously delivering further savings whilst at the same time boosting our Scottish audience.\n\nAs we continue to expand our content business, targeting a range of broadcasters for future commissions, we are delighted that STV Productions has won its first ever series commission from the BBC. The BBC has commissioned STV Productions to produce a 20-part daytime series for early peak time on BBC Two, entitled Antiques Road Trip, and production is already underway. \n\nWe are delighted to be working with the Corporation, especially following our recent announcement confirming our wide ranging partnership agreement with the BBC, which will see us potentially sharing facilities, training, pictures, technology and archive programmes. \n\nWe are currently awaiting confirmation of a Taggart commission for 2009. Given the strong performance of the show and the strong ROI it produces for the ITV Network we are confident about the future of the series. \n\nOur website - www.stv.tv - has continued to develop in line with expectations and now has over 100,000 registered users. We have recently launched our dedicated city sites and by late summer we will have ded...