STV announces 8% rise in revenue with half year results
STV has released its half year results for the six months to 30 June 2013, revealing an eight per cent rise in revenue and a 22 per cent drop in net debt.
Revenue has increased from £47.6m in H1 2012 to £51.2m in H1 2013 with an 84 per cent growth in revenues from STV Productions.
Net debt has been reduced by 22 per cent falling from £55.9m in H1 2012 to £43.3m in H1 2013. Pre-tax profit pre-exceptionals and IAS19 is up five per cent at £6.7m.
Of the results, Rob Woodward, chief executive officer at STV, said: “We have delivered another strong financial performance with a further significant reduction in net debt. We are pleased to announce our intention to return dividend for the 2013 full year.
“As Richard Findlay steps down as chairman, I would like to thank him for his significant contribution in re-establishing STV as a focused, consumer-facing business and look forward to delivering the next phase of the company’s growth strategy under the chairmanship of Margaret Ford.”
The results come as STV Productions reveals it has been commissioned to produce a second series of quiz show Catchphrase after successfully bringing back the iconic series.
STV is also launching a series of city companion sites (mobile and online) to super-serve consumers in Scotland’s four largest cities.
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