Business
Interim Results
Interim Results.
About this update from Stv Group Plc
RNS Number : 9974M STV Group PLC 25 August 2011 0700 hours, 25 August 2011 STV Group plc Interim Results 2011 Interim Results for the six months ended 30 June 2011 STV, Scotland's leading digital media business, announces its Interim financial results for the half year ended 30 June 2011 which are in line with expectations: STV(£m) H1 2011 H1 2010 Revenue £47.2m £49.7m EBITDA* £8.1m £8.3m Operating profit* £7.0m £6.9m Pre-tax profit* £6.5m £6.0m EPS* 16.8 pence 16.0 pence Net debt £57.5m £60.7m *Pre-exceptionals Financial Highlights · Revenue down 5% at £47.2m, however, digital revenues up 53% at £2.7m · Operating profit pre-exceptionals up 1% at £7.0m · Pre-tax profit pre-exceptionals up 8% at £6.5m · Earnings per Share pre-exceptionals up 5% at 16.8 pence · Net debt down 5% to £57.5m · Dividend policy reviewed with an intention to resume payments at year end Strategic Developments · Wide ranging legal settlement agreed between STV and ITV · Digital business shows strong revenue growth in H1 · Launch of new digital consumer services: STV Holidays and STV Daily Deals · STV Local successfully building traffic, bringing new advertisers to STV and extending our reach across platforms · Strengthening audience relationship through innovative delivery of PSB content, via localised news programme and STV Local · Strong performance against KPIs including previously up-graded digital traffic KPIs · Launch of online research panel, ScotPulse, delivering consumer intelligence for STV and external clients · STV delivered average peak time share ahead of the network from January to June Richard Findlay, Chairman, said: "Trading is in line with expectations and I am pleased to report that we continue to see encouraging growth in our digital business. The wide ranging settlement agreed with ITV removes significant uncertainty ...