LONDON (Alliance News) - Broadcaster STV Group PLC Thursday said it had seen a "strong start" to 2015, with trading during the first quarter in line with its expectations.
National advertising revenue rose 9% during the quarter to end March, although Scottish advertising revenue market was down 13% due to campaign phasing. Digital revenue performed well during the first quarter, up 33%.
For the period to end-May, STV said it expects total airtime revenue to be up 3%, with national revenue up 5% and regional revenue down 11%. For the same period, digital revenue is expected to be up 40%.
STV is targeting a normalised earnings per share compound annual growth rate of 10% over 2014 to 2017.
"Performance across the business is in line with expectations against our ambitious KPI growth targets. Through the STV Family of consumer services we are successfully growing market share whilst continuing to enhance the service we offer to our advertisers," said Chief Executive Officer Rob Woodward in a statement.
Shares in STV are trading up 1.8% at 361.42 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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