STV reports £6m pre-tax profits in first half
ITV Scottish arm declares 20 per cent year-on-year increase in overall revenue
By New Statesman Published 27 August 2010ITV's Scottish franchisee STV has reported a pre-tax profit of £6m in the first half of 2010, driven by growth in its content and digital media businesses.
The Scottish broadcaster posted a 20 per cent year-on-year increase in its overall revenue, to £50m, and a 146 per cent y-o-y increase in its operating profit, to £7m.
STV said revenues from its content business - which produces programmes such as Taggart and Antiques Road Trip - rose by 24 per cent y-o-y to £3.6m, while those from its digital media division increased 60 per cent y-o-y to £1.6m. The broadcaster added that it may charge for some of its TV shows online and is "on track" to make £5.2m in digital revenue this year.
STV, which predicted its total television advertising revenue to increase by 10 per cent y-o-y in the third quarter, said it would, however, remain "cautious in the longer term".
The broadcaster's profits were affected by the £1m it spent countering legal battles with ITV in recent months.
Latest tweets
More from New Statesman
- Online writers:
- Steven Baxter
- Rowenna Davis
- David Allen Green
- Mehdi Hasan
- Nelson Jones
- Gavin Kelly
- Helen Lewis
- Laurie Penny
- The V Spot
- Alex Hern
- Martha Gill
- Alan White
- Samira Shackle
- Alex Andreou
- Nicky Woolf in America
- Bim Adewunmi
- Glosswitch
- Kate Mossman on pop
- Ryan Gilbey on Film
- Martin Robbins
- Rafael Behr
- Eleanor Margolis
- Tools and services:
- Polls
- Predictions
- Archive
- Magazine
- PDF edition
- RSS feeds
- Advertising
- Subscribe
- Special supplements
- Stockists

