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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.