26th Apr 2016 07:33
LONDON (Alliance News) - Scottish media company STV Group PLC on Tuesday said 2016 has started well and trading in the first quarter was in line with its expectations.
National revenue in the second quarter is set to be flat year-on-year, STV said, but regional revenue is expected to rise around 12%.
Overall for the first half of the year, total airtime revenue is forecast to be up around 2.0%, STV said, with national airtime revenue down 1.0% but regional airtime revenue growing 23%.
Digital revenue has been strong so far in 2016, up 25% year-to-date and forecast to maintain this growth across the full year.
STV Productions has performed well so far, the company said, with revenue secured so far in 2016 ahead of the whole of 2015.
STV also said on Tuesday it has secured a recommission from pay-TV broadcaster Sky PLC for a second series of documentary series "Prison: First & Last 24 Hours".
"We have made a positive start to 2016 with the launch of an enhanced digital news service within the STV Family of consumer services. We are particularly pleased with the strong growth in our digital and regional revenues," said Chief Executive Rob Woodward.
STV shares were up 3.2% to 400.00 pence early Tuesday, one of the best performers in the FTSE All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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