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STV doubles turnover to reach £3.5m

By Staff Reporter

The chief executive of STV has stressed that Brexit poses no threat to advertising revenues after the Scottish broadcaster reported a sharp rise in first-half profit.

Pre-tax profit rose 50% to £10.2m, while sales rose 5% to £56.2m in the first six months of the year, boosted by digital revenues and its production arm.

Turnover at STV Productions doubled to £3.5m, driven by a number of popular recommissioned TV shows, including the BBC's Antiques Road Trip, STV said.

Chief executive Rob Woodwards said that he does not expect advertising to dry up in the wake of the EU referendum.

"The world continues as it did before," he said. "We haven't seen any advertisers change their bookings and there is no indication that will happen."

Following UTV's sale to ITV, STV is now the only remaining independent Channel 3 licence holder.

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