Business
stv group plc Preliminary Res
stv group plc Preliminary Res.
About this update from Stv Group Plc
[{"type":"text","content":"\n RNS Number : 9110N STV Group PLC 26 February 2009 \n \n\n0700 hrs, 26 February 2009 \n\nstv group plc Preliminary Results 2008\nA transformed business with positive momentum\n\n\nFinancial Highlights\n\n\n\n\n\n\n\n\nstv (continuing)\n\n\nGroup\n\n\n\n\n\n\n\n\n2008\n\n\n\n2007\n\n\n\n\n\n\n2008\n\n\n\n2007\n\n\n\n\nTurnover\n\n\n£111m\n\n\n£120m\n\n\n -8%\n\n\n£145m\n\n\n£185m\n\n\n\n\nEBITDA\n\n\n £15m\n\n\n£13m\n\n\n+19%\n\n\n£17m\n\n\n£22m\n\n\n\n\nOperating profit*\n\n\n £13m\n\n\n£11m\n\n\n+18%\n\n\n£14m\n\n\n£16m\n\n\n\n\nPre-tax profit*\n\n\n\n\n\n\n\n\n\n\n\n£12m\n\n\n£4m\n\n\n\n\nPre-tax profit pre IAS19 notional interest*\n\n\n\n\n\n\n\n\n\n\n\n£10m\n\n\n£1m\n\n\n\n\nEPS*\n\n\n\n\n\n\n\n\n\n\n\n24.8p\n\n\n23.4p\n\n\n\n\nEPS pre IAS 19 notional interest*\n\n\n\n\n\n\n\n\n\n\n\n20.9p\n\n\n8.5p\n\n\n\n\n\n*Pre-exceptionals and IFRS5 benefits\n\nTrading for the full year 2008 has met Board expectations, despite very challenging market conditions, and the business has delivered a strong performance in its KPIs.\n\n \n· 10 out of 12 KPI targets achieved; five exceeded\n· EPS increased 6%\n· Operating margins improved\n- Broadcast margin increased to 11%\n- Content margin KPI target exceeded by eight percentage points\n- Ventures target margin of 10% delivered\n· Achieved 11% growth in regional television advertising market\n· Debt reduced by a further £11m; now at a normal, sustainable level\n \nStrategic Developments\n \n· stv has been taking greater control of its schedule, using its strong regional brand to differentiate itself from ITV plc\n· Content business delivers strong growth\n- Alan Clements started as Director of Content in September\n- Achieved 80 produced hours, exceeding original target by 33%\n· Transformation of Ventures business\n- stv.tv websit...