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26/08/2010

STV Revenue 'On The Rise'

Advertising revenue is rising for the Scottish commercial channel STV.
The Scottish ITV licensee said this week that it expects TV ad revenue to increase by up to 10% in the third quarter thanks to a reported surge in underlying pre-tax profits to £6m in the first half of 2010.
This is in counterpoint to last year, when STV reported a 55% fall in pre-tax profits as the company struggled with the recession and the consequent slump.
They have now seen a 20% year-on-year rise in total revenue to £50m in the first six months of the year. Operating profits, before exceptional items also rose by 146% to £7m.
It expects its total TV ad revenues to rise 10% year on year in the third quarter, compared with a forecast of 17% for the total UK TV ad market.
STV said that national TV ad revenue would be up 15% in the third quarter but that overall revenues were being dragged down by regional ad sales, which were expected to fall by 9%.
(BMcC/KMcA)
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