STV reports £6m pre-tax profits in first half

ITV Scottish arm declares 20 per cent year-on-year increase in overall revenue

ITV'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.

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