STV Group plc
Interim Management Statement – Quarter 3 2012
STV Group plc today releases its Interim Management Statement covering the period from 24 August 2012 to 14 November 2012. The Group has continued to make strong progress in the period with performance against KPIs and trading in line with growth expectations:
STV Productions announces a new commission for ITV2 for an 8-part entertainment show, Fake Reaction, for delivery in early 2013. The format for the show has been developed in conjunction with STV’s US content partners, Kinetic Content. This announcement follows recent commissions secured in the period for BBC2 (20-part cookery show, Country Show Cook Off) and ITV1 for 8 episodes of prime time entertainment show, Catchphrase;
STV’s digital business continues to grow with all consumer metrics tracking in line with KPI targets. Digital revenues generated from VoD; display advertising; classified advertising and transactional activities continue to grow, up 70% across these areas, with the slowdown in digital revenues from PRTS revenue and music rights stabilising and offsetting the growth in the other areas noted above in 2012;
In Q3 national advertising revenues were down 3%, in line with expectations. National advertising revenues in November and December are expected to be slightly ahead of the ITV Network and, overall, we expect national revenues to be in line with the ITV Network for the full year.
Regional airtime revenue is expected to be up 3% for the full year, in line with expectations.
STV continues to remain cautious on the outlook for 2013 but is encouraged by its strong on-screen performance where STV continues to outperform the ITV Network.
STV will host an event for analysts at 12pm today and there will be no further trading information disclosed.
Rob Woodward, Chief Executive Officer of STV Group plc, said: “We remain on track to achieve our growth targets in 2012 and continue to make strong progress in delivery of our strategy to grow non-broadcast earnings. The succession of commissions secured by STV Productions from an increasing range of channels demonstrates the progress we’re making in growing our content business. This combines with a sustained improvement in operating margins in our broadcast and digital businesses as we deepen our engagement with consumers across an increasing range of platforms.”
STV Group Plc
George Watt, Chief Financial Officer
Tel: 0141 3003670
Eleanor Marshall, Communications & PR Manager
Tel: 0141 3003670
Tel: 0207 4572020