STV's second half should get a boost from its recent referendum showdown
Keith Findlay
STV Group boss Rob Woodward said yesterday it had made further progress towards its goal of generating one-third of profits from non-broadcast activities by the end of 2015.
The Glasgow-based broadcaster’s chief executive also hailed a strong first half performance as STV posted pre-tax profits of £8.4million for the six months to June 30, up by 35% from £6.2million a year earlier, while revenue lifted by 7% to £54.7million.
Mr Woodward said the firm’s doubling of its interim dividend to 2p per share and in intended 6p total for the full year reflected “the transformation of STV to a business that is well-positioned to deliver sustainable growth and returning value to shareholders.”
Market experts say STV is benefiting from a favourable advertising backdrop and a strong brand identity, as well as the currently high level of interest in Scotland because of the independence referendum.
