The STV Group Plc Board proposes a final dividend 7.4 pence per share, after considering all relevant factors including the ongoing macroeconomic uncertainty.
Other financial highlights include:
Results demonstrate the benefits of diversification against a challenging market backdrop
o Group revenue growth of 12% to £188.0m, driven by acquisition-related growth in Studios and Euros-related advertising
o Studios revenue up 26% to £84.1m and adjusted operating profit up 18% to £6.1m
o Digital sales (before commission) up 8% to £21.8m (net of commission -4%); year 1 of commission drives lower adjusted operating profit of £8.4m as expected
o Total Advertising Revenue (TAR) up 5% before commission; STV-controlled advertising up 5%
o Group adjusted operating profit up 3% to £20.6m; statutory operating profit more than doubles to £13.2m
o Group adjusted operating margin of 11.0% slightly down, as expected and reflecting strong growth in Studios
Cost savings achieved of £1.9m vs target of £1.5m; on track to deliver £5m p.a. by end FY26
Operating cash conversion strong at 134% (2023: 169%)
Net debt (excluding non-recourse production financing) at £28.8m (2023: £29.0m)
In Feb-25, new revolving credit facility of £70m secured at favourable rates, for at least 3 years
New CEO Rufus Radcliffe to outline strategy refresh in May 2025
