STV tightens costs as ad markets continue to soften

Scottish digital media business STV said tight cost controls offset soft advertising markets as it reported full year results in line with expectations.

Scottish digital media business STV said tight cost controls offset soft advertising markets as it reported full year results in line with expectations.

The group, which holds the ITV licenses for central and northern Scotland, said pre-tax profit rose 12% to £14m for the year ended 31 December 2011 while revenue slipped to £102.0m from £104.8m in 2010.

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