By Pierre Bertrand
STV Group PLC said Monday that its Studios unit has now exceeded the board's 2023 revenue target after commissioning a number of new series and a strong start to the year.
The Scottish broadcaster said that the Studios unit has now secured more than 20 million pounds ($24.45 million) of revenue for this year and GBP40 million to GBP45 million for 2023, exceeding its target of GBP40 million. This compares with GBP8.7 million in 2020.
Studios' adjusted operating profit--a metric that strips out exceptional and other one-off items--for 2023 is expected to increase to at least GBP3 million, more than double that for 2021, the company said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
$(END)$ Dow Jones Newswires
June 20, 2022 10:05 ET (14:05 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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