The STV Group Plc Board proposes a final dividend of 7.4p per share for 2023, giving a full year dividend of 11.3p per share.
Other financial highlights include:
Diversification strategy continues to accelerate:
o Group revenue growth of 22%
o Studios revenue and adjusted operating profit trebles
o Digital revenue +6% and operating profit +16%
o 75% of Group adj. operating profit outside broadcasting, well ahead of 50% target
Adjusted Group operating profit of £20.1m down 22%, impacted by linear advertising revenue and cost inflation and related to broader UK macro uncertainty, as expected
Strong on-screen performance, with STV Player streams + 28% and STV the most-watched peak time TV channel in Scotland for the 5th year in a row
Advertising outlook improving; Q1 total advertising revenue expected to be up around 5%
New 3-year targets set to drive STV's profitable growth
CEO Simon Pitts to step down over the next 12 months to take up a new appointment beginning in Q1 2025
