People/Biz

STV interim results reflect growth across divisions

Scottish media brand STV Group plc has released interim results for the first six months of 2018, revealing strong performance across the board through June 30. Total revenues went up 6% ...
September 4, 2018

Scottish media brand STV Group plc has released interim results for the first six months of 2018, revealing strong performance across the board through June 30.

Total revenues went up 6% across broadcast, digital and production divisions, with digital revenue boasting a 24% increase — VOD alone was up 61%.

STV Productions, meanwhile, touted a 42% revenue increase year-on-year, with new commissions including several docs for the BBC (Britain’s Polar Bear Club, Lucy Worseley’s Fireworks for a Tudor Queen and Britain’s Biggest Warship among them) and the upcoming Sex Tape series for Channel 4 bolstering the production division’s slate.

An interim dividend of 6 pence per share was confirmed, while the company proposes a full-year dividend payment of 20 pence per share, up 18% from last year.

The company also reported its strongest TV viewership share since 2009 at 18.7%, along with an increase in online viewership of 73% and simulcast up 68%.

STV is also on track with its strategic growth plan, announced in May, with key leadership appointments now confirmed. These include Bobby Hain as MD of broadcast, Richard Williams as MD of digital, starting in October, and a new MD of production who will start in November, to be confirmed this month.

“The results announced today show encouraging underlying growth across all of our key business areas so far in 2018, which we expect to continue for the remainder of the year,” said CEO┬áSimon Pitts (pictured), in a statement.

“The Board is very pleased with the early progress made in implementing the recently launched strategic plan,” added Margaret Ford, STV chairman. “Together with strong trading in the first half of the year, we feel confident in recommending an increase in the interim dividend to 6 pence per share.”

STV will host a presentation for analysts today (Sept. 4) in London.

About The Author

Menu

Search