Interim Management Statement

RNS Number : 7415U

STV Group PLC

21 October 2010

 



STV Group plc

Interim Management Statement - Quarter 3

 

Scotland's digital media company

Summary

STV Group plc today releases its Interim Management Statement covering the period from 26 August 2010 to 21 October 2010.

-     Sustained improvement in airtime market with growth continuing in Q3 and into Q4. Q3 airtime revenues ended up 10%, with October and November showing growth of 15%-20% and 5%-10% respectively

-     Digital strategy continues to progress with all usage metrics growing strongly

-     STV Local, our network of hyper local websites, was successfully launched in September and the roll out continues with the STV Local platform targeted to cover around 25% of the Scottish population by the end of Q4

-     Relentless focus on KPIs continues and these remain broadly on track against a backdrop of improved airtime revenues and targeted investment in digital business

Trading and the performance of the business are meeting our expectations. There has been no change in the status of the litigation between STV and ITV plc and ITV Network since the last update.

Rob Woodward, Chief Executive Officer, said:

"The improved market conditions evident during the first half of the year have continued to prevail and trading in the third quarter reflects the general improvement in the airtime market and the continuing delivery of our digital strategy.  We are delivering performance growth across all areas of the business and, during the period, we have launched a successful pilot of STV Local.  This initiative forms a key part of our digital strategy to become the leading provider of local online services in Scotland and we will now roll this out more widely across other areas of the country."

Richard Findlay, Chairman, said:

"Whilst the longer term macro-economic outlook is uncertain, we are continuing to deliver growth across the business and achieve targeted levels of traffic to our digital platforms."

21 October 2010

 

Enquiries:

STV Group Plc	0141 300 3587
Rob Woodward, Chief Executive Officer
George Watt, Chief Financial Officer
Kirsten Blackie, PR Manager
College Hill	020 7457 2020
James Hogan
Matthew Smallwood
Jamie Ramsay

 

END

 

 

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