â¨â¨UK free-to-air broadcasters STV and UTV have reported first half results and offered little by way of guidance for the TV advertising market, which continues to be depressed. The companies are both part of the ITV network.
Scottish ITV franchise holder STV reported revenues of Â£41.5m (47.3m) compared with Â£56m a year earlier and EBITDA profit of Â£4.2m compared with Â£5.8m.
â¨Meanwhile, UTV, the ITV franchise holder for Northern Ireland, reported a 10% fall in group turnover of Â£54.5m and a decline of 61% in operating profits at its TV division, taking the total to Â£1.8m. Chief executive John McCann said: ÂIt is difficult to give a detailed outlook because of continuing macroeconomic uncertainty, nonetheless we are expecting the rate of decline in advertising to slow as comparatives ease over the coming months.Â
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