| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
STV profit drops 65%; reinstates dividend on growth optimism
StockMarketWire.com
|
Scottish television broadcaster STV reported a 65% drop in annual profit amid a slump in advertising revenue.
The company, however, reinstated its dividend, citing confidence in it growth prospects.
Pre-tax profit for the year through December fell to £6.7 million, down from £19.0 million year-on-year, as revenue slid 14% to £107.1 million.
STV declared a final dividend of 9p per share, up 43% year-on-year.
'STV is coming through the pandemic with confidence,' chief executive Simon Pitts said.
'With profit and net debt materially better than expectations, the 2020 financial results we are confirming today are testament to the strength of our business and the commitment and creativity of our people in what has been an extraordinary 12 months.'
At 9:02am: (LON:STVG) STV Group PLC share price was 0p at 272.5p
Story provided by StockMarketWire.com
|
|
|
|
|
|
